VNET Group, a carrier- and cloud-neutral internet data centre services provider in China, recently announced the completion of a significant strategic investment.
The investment, totalling an impressive $299m, was made by Success Flow International Investment Limited and Choice Faith Group Holdings Limited. Both investors are under the umbrella of Shandong Hi-Speed Holdings Group Limited (SDHG), a company listed on the Hong Kong Stock Exchange.
The investment resulted in Success Flow and Choice Faith acquiring substantial shares in VNET, with their respective holdings now standing at approximately 29.5% and 12.6% of the total issued and outstanding shares of the company. This investment has notably changed the ownership landscape of VNET, impacting its voting power and stakeholder structure.
VNET’s business focuses on providing internet data centre services in China. The company offers hosting and related services, including data centre services (IDC), cloud services, and business VPN services. These services are integral to enhancing the reliability, security, and speed of internet infrastructure for their customers. VNET’s client base is diverse, catering to over 7,000 hosting and related enterprise customers. These range from internet companies and government entities to blue-chip corporations and small to mid-sized enterprises.
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