Chinese science park developer Tus-Holdings eyes expansion with US$388m investment in 21Vianet

The roll-out of major digital services infrastructure across mainland China is expected to receive a big boost after Tus-Holdings, the Tsinghua University-backed science park developer, acquired a major stake in Nasdaq-listed data centre operator 21Vianet for US$388 million.

“We believe the growth strategies of both Tus-Holdings and 21Vianet are highly aligned and complementary,” Tus-Holdings chairman Wang Jiwu said in a statement.

Wang said the two companies can work together to achieve the common goal of becoming “a leading force in building a digital [services] economy in China”.

Beijing-based Tus-Holdings, through an affiliated investment company, agreed on Monday to pay US$2.712 per ordinary share to take a 21.4 per cent equity ownership in 21Vianet, representing about 51 per cent voting power in the firm. The transaction is expected to be completed next month.

Founded in 1994, Tus-Holdings develops and operates science parks, business incubation centres and technology research and development properties across the mainland. It offers intelligence and financial services, including venture capital investment.

Its flagship TusPark (Beijing), formerly known as the Tsinghua University Science Park, is currently the world’s single largest university science park, covering 770,000 square metres that houses more than 1,200 multinational and domestic enterprises.