AirTrunk, a Sydney-based data center business, has been acquired in a deal worth over US$16Bn by U.S. private equity group Blackstone and the Canada Pension Plan Investment Board. This acquisition marks one of the largest for an Australian company and is the biggest acquisition deal of 2024 so far.

Founded in 2015 by Robin Khuda, AirTrunk is known for creating platforms for cloud, content, and large enterprise customers across the Asia-Pacific & Japan (APJ) region and has played a notable role in the Australian startup landscape. Khuda, who moved to Australia from Bangladesh at the age of 18, ventured into the startup scene after a career in the corporate world, using his retirement savings to fund his entrepreneurial journey.

Sandeep Varma, founder and CEO of SAARI Collective, remarked on the influence of Khuda's success, "Robin has built data centers… we’re not the people only on the other end of the phone. He’s the one running an entire global network," highlighting the breaking of stereotypes and the creation of new opportunities for diverse entrepreneurs in Australia.

This acquisition by major global investors underscores the growing recognition and value of Australian businesses on the world stage, paving the way for more high-value deals in the startup ecosystem.