SoftBank to Buy DigitalBridge in $3 Billion Data Center Deal (1)

SoftBank Group Corp. agreed to buy private equity firm DigitalBridge Group Inc. for about $3 billion in cash, part of the Japanese conglomerate’s push to invest in data centers and other digital infrastructure fueling the artificial intelligence boom.

SoftBank will pay $16 per share for New York-listed DigitalBridge, the companies said in a statement Monday, confirming an earlier Bloomberg News report. The offer — valued at $4 billion including debt — is a 65% premium to DigitalBridge’s closing share price on Dec. 4, the last trading day before talks between the two companies were reported.

The Japanese company’s share ...