Colony Capital, Inc. today announced a corporate rebranding of the company to DigitalBridge, effective June 22, 2021.
Digital Colony, the Company’s digital infrastructure investment platform, will also change to operate under the DigitalBridge brand.
In connection with the transition, the corporate name will be changed to DigitalBridge Group, Inc. and the Company will begin trading under a new NYSE ticker symbol, DBRG, as of June 22, 2021.
Wall street appeared to welcome the rebranding and a recent unloading of equity and debt with the stock in mid afternoon trading reaching a 52-week high at $8.10, up 7%. In August, CLNY was trading at $1.98.
The new name reflects the significant business transformation the Company has undergone since the leadership and board of directors made the bold decision to chart a new direction – years ago – realigning a diversified real estate investment firm to focus exclusively on the fast-growing digital infrastructure sector.
The ‘new’ name, DigitalBridge, re-establishes and renews the original Digital Bridge, which combined with the Company in 2019, evoking its heritage as an early innovator in digital infrastructure, while looking forward to a fully digital, interconnected future.
“The vision we crafted, bringing a digital infrastructure platform built on two decades of operating experience and deep industry relationships together with an institutional capital formation capability and global enterprise-grade operations, has reached its next phase. Today as one company, DigitalBridge, we’re a unique digital infrastructure business, with both the operating DNA and access to institutional capital that positions us to execute globally on a converging digital infrastructure ecosystem,” said Marc Ganzi, President and CEO of Colony Capital and CEO of Digital Colony.
“We are poised to build, operate, and finance a new era in connectivity, leveraging a single platform focused on the full spectrum of digital infrastructure including towers, data centers, fiber, and small cells.”
Ganzi added, “Today marks a new chapter in our history as we emerge from this transformation as a fast-growing global digital infrastructure REIT. I am proud of and humbled by what our team has accomplished in just the past two years, executing one of the most significant asset transitions in the history of REITs. We are on track to rotate $100 billion in AUM ‘from diversified to digital’ and are now 80% rotated on a pro forma basis, following our agreement, announced yesterday, to divest the bulk of our Other Equity & Debt (OED) business for over a half-billion dollars. This is the natural moment for us to reactivate DigitalBridge, advancing our strategy as we connect networks, companies, geographies, and communities on a global basis.”
“Marc and the team have done an outstanding job reaching this significant milestone and we believe the new name captures who we have become through this transformation and our new vision for the future,” said Nancy Curtin, Chairperson of the Board.
“As the digital economy continues to grow rapidly, DigitalBridge is well-positioned to capitalize on the powerful secular tailwinds supporting the continued investment in digital infrastructure.”
The Company intends to share more information about its strategy and rebranding, including a new logo at its inaugural Investor Day, to be held on June 22, 2021. To register and for additional information please visit event’s site: DigitalBridge Investor Day.