DigitalBridge Group, the U.S. private equity firm that SoftBank Group is set to acquire, has agreed to buy PLUS ES, an independently operated unit of Ausgrid Group.

PLUS ES provides metering and data services to retail electricity companies, utilities, and grid operators, and is one of the country's largest smart meter service providers, overseeing roughly 2 million meters across the national electricity market.

Justin Chang, DigitalBridge Asia-Pacific head and Senior Managing Director, described PLUS ES as positioned at the intersection of digital infrastructure and the energy transition.

The deal remains subject to customary closing conditions, including regulatory approval, and no transaction value was disclosed.