What drives digital infrastructure valuations?

Contracted recurring revenue, customer retention, capacity utilisation and asset economics, including power arrangements. Long commitments from quality customers push valuation toward infrastructure multiples; short-term hosting revenue is valued closer to services.

Who buys digital infrastructure businesses?

Infrastructure funds, European data-centre and connectivity platforms, and strategic operators consolidating capacity. These are almost always cross-border processes run in English, so preparation includes an English-language data pack and a list of relevant international buyers.

Does investment screening apply?

Potentially. The 2023 law screens non-EU/EEA investors acquiring control in critical sectors, which include cybersecurity and data-related activities. Whether a specific operator is in scope is a legal determination made early in the process; EU and EEA buyers are generally outside it, though ownership is assessed at the level of the ultimate investor.

What does diligence focus on?

Facility ownership or lease terms, power contracts and redundancy, certifications and security accreditations, customer contracts and service-level history, churn, and capacity utilisation. Buyers reconcile the technical and commercial layers against each other.

How does serving financial-sector customers affect value?

Institutions with high availability and security requirements tend to be stable, quality-conscious customers with long commitments and real switching costs, which supports recurring-revenue quality. Buyers verify these relationships through contract terms and renewal history.

What should we prepare before a process?

A contract-by-contract revenue build with terms and renewal dates, utilisation and capacity data, power cost history and terms, certification documentation, and churn analysis. Infrastructure buyers use these documents to assess contracted revenue, asset costs and customer retention.

Energy & Infrastructure

What Is a Digital Infrastructure Business Worth? – Luxembourg

A digital infrastructure business typically sells for 9.1x to 15.5x EBITDA. Where yours lands depends on size, growth and owner dependence. Get your instant estimate in EUR below.

Digital Infrastructure Valuation Multiples

EBITDA Multiple11.83x typical

9.1x11.83x15.47x

Revenue Multiple3.64x typical

2.28x3.64x5.46x

Based on middle-market transaction data. Actual multiples vary based on company-specific factors.

Key Value Drivers for Digital Infrastructure

01Contracted revenue and lease duration
02Capacity utilization and expansion potential
03Tenant quality and diversification
04Geographic positioning and connectivity
05Power efficiency (PUE) and operating costs

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How to value a Digital Infrastructure business in Luxembourg

Luxembourg's digital infrastructure sector, data centres, connectivity and hosting, developed in step with the financial centre it serves: institutions with demanding availability and security requirements anchor domestic demand, and the satellite operator SES, headquartered in Betzdorf, keeps space-based connectivity part of the picture. Operators typically serve customers well beyond Luxembourg.

Buyers value digital infrastructure on contracted recurring revenue, customer quality and retention, capacity utilisation and the cost structure of the underlying assets, with power arrangements a standing diligence item across the European sector. Long customer commitments and high switching costs support infrastructure-style multiples; shorter-term hosting revenue is valued more like services.

Diligence covers the asset layer, ownership or lease terms of facilities, power contracts, redundancy and certifications, and the commercial layer of customer contracts, service levels and churn history. Security accreditations and compliance with EU data rules are checked for transferability.

The buyer pool is international: infrastructure funds, European data-centre platforms and strategic operators. Under Luxembourg's investment screening law of 14 July 2023, critical sectors include areas relevant to digital infrastructure such as cybersecurity and data, so control acquisitions by non-EU/EEA investors may require screening, judged by who ultimately controls the buyer.