(Bloomberg) -- US-based investors DigitalBridge Group Inc., I Squared Capital-owned BDx and Equinix Inc. are among potential suitors for the data center business of Malaysia’s Time Dotcom Bhd., according to people familiar with the matter.

Stonepeak-backed Digital Edge and Temasek Holdings Pte’s ST Telemedia Globe Data Centres are also among the possible bidders, the people said, asking not to be identified because the matter is private. The suitors are conducting due diligence on the assets, known as Aims Data Centre, as they weigh making binding offers, the people said. 

A potential deal for Aims could raise about $500 million to $600 million, Bloomberg News has reported.

Considerations are ongoing and the firms could still decide against any transaction, the people said. Representatives for Time Dotcom, DigitalBridge, Equinix and STT GDC declined to comment. Malaysia is a potential future location for BDx facilities as the company looks to expand its footprint across Asia, said Braham Singh, chief executive officer of BDx, in response to a query from Bloomberg News.

Data center companies in Asia have been attracting strong takeover interest, in part due to the perception they have stable returns and expectations of ongoing growth as people increasingly rely on technology.

Backed by Malaysia’s sovereign wealth fund Khazanah Nasional Bhd., Time dotcom offers fixed-line voice and broadband services to consumers and businesses, as well as enterprise solutions in areas such as cloud and security. Beyond Malaysia, it has stakes in providers in Vietnam and Thailand, according to its latest annual report. Its shares have dropped about 5% this year, valuing the firm at around $1.8 billion.

©2022 Bloomberg L.P.