By Wong Yi Wei

Warburg Pincus-backed Princeton Digital Group will acquire a 70% stake in the data center portfolio of XL Axiata (EXCL.JK), Indonesia's second largest telecommunications company by subscribers, for an undisclosed sum.

Princeton Digital has also committed to invest $100 million investment in the data centers, a joint statement by the two companies said Wednesday.

XL Axiata owns five data centers in Indonesia, while Singapore-based Princeton Digital is an investor, developer and operator of internet infrastructure.

Write to Wong Yi Wei at yiwei.wong@wsj.com

(END) Dow Jones Newswires

July 03, 2019 05:10 ET (09:10 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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