Global Engine Group Holding Limited Acquires 22.5% Stake in Corpotech Holdings Limited, a Hong Kong Data Centre Operator

Company Overview - Global Engine Group Holding Limited (GLE) is an integrated solutions provider in information communication technologies (ICT) based in Hong Kong [1] - The company operates through its wholly owned subsidiary, Global Engine Holdings Limited [1] Acquisition Details - GLE has completed the acquisition of a 22.5% stake in Corpotech Holdings Limited for a total consideration of $2.25 million [1] - Corpotech Holdings owns a 9,627 sq.ft data center located in Tsing Yi, Hong Kong [1] Market Growth Potential - The Hong Kong data center market is projected to grow significantly, with total market capacity expected to increase from 0.95 thousand MW in 2024 to 1.78 thousand MW by 2029 [2] - The market is anticipated to generate colocation revenue of$732.5 million in 2024, reaching $1.37 billion by 2029, reflecting a compound annual growth rate (CAGR) of 13.36% during this period [6] Strategic Importance - The acquisition strengthens GLE's position in the expanding data center market and enhances its capacity to deliver comprehensive data managed services [5] - The growing demand for secure data center services is driven by the increasing ties between Hong Kong and mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area [5] - The mainland's push for internationalization in the information sector further boosts demand for data center services [5] Target Customer Groups - GLE's target customers include small to medium-sized telecom operators, ICT service providers, data center and cloud computing services providers, and IoT solutions providers [5]