DigitalBridge, a leading global alternative asset manager dedicated to investing in digital infrastructure, today announced that a DigitalBridge-managed investment vehicle has entered into an agreement to acquire PLUS ES, one of Australia’s largest smart meter providers. PLUS ES is a separate ring-fenced entity within the Ausgrid Group. PLUS ES provides infrastructure and services that connect retailers, utilities and network operators with the data needed to manage a complex energy ecosystem.

"PLUS ES sits at a compelling intersection of digital infrastructure and the energy transition," said Justin Chang, Head of Asia Pacific and Senior Managing Director at DigitalBridge. "With approximately 2 million meters already deployed, the business has meaningful scale and an important role in Australia’s energy ecosystem. Australia’s smart-meter rollout also provides a significant runway for growth, supported by long-term customer relationships and contracted deployment visibility. We look forward to working with the PLUS ES team to support the continued growth of the business as it continues to build digital infrastructure to support Australia’s evolving energy needs."

The transaction is subject to customary closing conditions, including regulatory approvals.