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Our Merger with Dupont Fabros Technology: Growth Without Limits

September 14, 2017  |  Written by William Stein, Chief Executive Officer

As you may have read, in June we announced the definitive agreement under which DuPont Fabros Technology (DFT) would merge with Digital Realty.  I am pleased to report that our respective shareholders have approved the transaction, the transaction has closed, and we are now commencing with integration of the two businesses. The combined expertise, footprint and service portfolios of these two companies will benefit current and prospective customers, partners, investors and employees in ways that neither company could have achieved alone.

The combined company is now the ninth largest publicly traded US REIT in the RMZ index with an equity market cap of approximately $27 billion, and a total enterprise value of over $35 billion. Our size and experience enable us to serve you better, and we look forward to working even more closely with each of you to ensure your ongoing success and satisfaction.

This strategic transaction represents the biggest step we have taken to date in accelerating our commitment to provide the most comprehensive set of data center solutions and expertise in the market – supporting single-cabinet colocation and interconnection, to multi-megawatt, and now hyperscale deployments. DFT data centers’ 12 multi-tenant facilities significantly expand our hyperscale product offerings and enhance our ability to meet the rapidly growing needs of both the leading cloud service providers and enterprise customers transitioning to hybrid cloud architectures.

DFT’s development pipeline enables strong growth of the Digital Realty Connected Campus portfolio. Six data center development projects currently under construction in Ashburn, Chicago, Santa Clara and Toronto are expected to be completed in the next 12 months and are already 48 percent pre-leased. Adding to this, DFT also has strategic land holdings in Ashburn, Phoenix and Oregon which enable further expansion as additional capacity is needed.

In addition to world-class assets in the nation’s top metros, DFT has an outstanding team with a deep knowledge of industry best practices for customer engagement and ongoing satisfaction. In the coming weeks, we will continue to execute the strategic integration of Digital Realty and DFT, designed to offer greater choice and flexibility for our customers. 

William Stein

William Stein

Chief Executive Officer

William Stein (Bill) has served as Digital Realty’s Chief Executive Officer since November 2014 and as Chief Financial Officer from July 2004 until April 2015. Previously, he held the role of Chief Investment Officer from July 2004 until April 2014.

Prior to joining Digital Realty, Bill was with GI Partners, Digital Realty’s predecessor private equity fund. Bill has over thirty years of investment, financial, and operating experience in both large company environments and small, rapidly growing companies. Prior to joining the company, Bill provided turnaround management advice to both public and private companies. Bill has held a wide range of leadership roles, including Co-Head of VentureBank@PNC and Media and Communications Finance at The PNC Financial Services Group, where he was responsible for directing the delivery of PNC’s products and services to VentureBank’s high technology and emerging growth client base; President and Chief Operating Officer of TriNet Corporate Realty Trust (now part of iStar Financial); Executive Vice President, Chief Financial Officer and Secretary of TriNet Corporate Realty Trust; and a number of senior investment and financial management positions with Westinghouse Electric, Westinghouse Financial Services and Duquesne Light Company. Bill practiced law for eight years, specializing in both litigation and securities & finance.

Bill received a Bachelor of Arts degree from Princeton University, a Juris Doctor degree from the University of Pittsburgh, and a Master of Science degree with Distinction from the Graduate School of Industrial Administration at Carnegie Mellon University.