Yes. DigitalBridge and infrastructure investor IFM Investors completed their acquisition of data-center company Switch in December 2022, taking it private in a transaction valued at approximately $11 billion including assumed debt. The May 2022 headline described an acquisition bid that was still being discussed—not a completed purchase. Later reports about SoftBank and a possible Switch IPO concern separate developments.
What did the May 2022 report say?
On May 10, 2022, Bloomberg News reported that DigitalBridge had emerged as a suitor for Las Vegas-based Switch and was competing with an arm of Brookfield Asset Management. The report, based on unnamed people familiar with the matter, said a deal might be announced around Switch’s earnings report, but also cautioned that talks could end without an agreement. Switch and DigitalBridge declined to comment at the time. Read the Bloomberg report republished by Data Center Knowledge.
How the reported bid became a completed acquisition
In December 2022, DigitalBridge and IFM Investors completed the acquisition of Switch, making it a privately held company. DigitalBridge described the transaction as worth approximately $11 billion, including assumed debt, and Switch common stock stopped trading on the New York Stock Exchange. DigitalBridge’s completion announcement confirms the outcome.
Switch founder and CEO Rob Roy said in the announcement: “We are excited to embark on the next chapter of Switch’s evolution in partnership with DigitalBridge and IFM Investors, two leading digital infrastructure investment firms.”
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Why the $7 billion and $11 billion figures differ
The figures refer to different dates and measures, so they are not competing purchase prices:
| Figure | What it describes | Status and source |
|---|---|---|
| About $7 billion | Switch’s market capitalization as of the afternoon of May 9, 2022 | A reported market snapshot in Bloomberg’s May 10, 2022 report—not the final transaction value. Source. |
| Approximately $11 billion | The DigitalBridge–IFM transaction value, including assumed debt | The completed December 2022 take-private, as stated by DigitalBridge. Source. |
Market capitalization measures the market value of a company’s outstanding shares at a point in time. A transaction figure that includes assumed debt reflects a broader measure of the deal’s value. The two numbers should not be treated as an increase from one bid price to another.
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- PCI & HIPPA and EIA/ECA-310-E compliant
Who owns Switch now, and is it going public?
Switch was taken private by DigitalBridge and IFM Investors in 2022. In August 2026, Data Center Dynamics reported that Switch had confidentially filed for an initial public offering. That is a report of a confidential filing, not confirmation of a public S-1 registration statement in the sources cited here. Read Data Center Dynamics’ report.
What happened with SoftBank?
SoftBank’s reported discussions concerned a later, separate possible acquisition of Switch—not the completed 2022 DigitalBridge–IFM deal. In January 2026, The Business Times reported, citing unnamed people familiar with the matter, that SoftBank had halted talks about buying all of Switch after considering a transaction of about $50 billion. The report said discussions about a possible partial investment or partnership remained active. The $50 billion was reported negotiation context, not an agreed price or completed valuation. Read The Business Times report.
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Does SoftBank’s proposed DigitalBridge deal change Switch’s ownership?
Not by itself. DigitalBridge is the investment manager associated with the Switch acquisition, while Switch is a separate portfolio company. DigitalBridge’s SEC proxy says its stockholders approved SoftBank’s proposed acquisition of DigitalBridge on April 23, 2026, and at that point described customary closing conditions and an expected close in the second half of 2026. The proxy does not establish whether the transaction closed by October 8, 2026, nor does it announce a separate purchase of Switch. Read DigitalBridge’s SEC proxy.
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