Singapore – September 08, 2026 -- BUUU Group Limited (Nasdaq: BUUU) has signed a definitive agreement to acquire a 60% stake in Brightray Science Inc., a prefabricated modular data center provider, alongside private placements expected to generate gross proceeds exceeding $60 million.
The deal shifts BUUU, previously a MICE (events management and stage production) services provider, into industrialized AI data center delivery as its primary growth business. The company will simultaneously relocate its corporate headquarters to Singapore.
Purchase consideration combines fixed-price shares and a performance-linked convertible note
Consideration consists of newly issued BUUU Class A common shares priced at a fixed $20.00 per share, plus a convertible note for up to 10 million shares adjustable against Brightray's audited annual net income post-closing, capped at 19.99% of BUUU's outstanding shares. Sellers will retain a 40% stake in Brightray, with BUUU holding a call option on the remainder exercisable within three years of closing. Brightray founder Bin Wang will join BUUU as Executive Director and Co-CEO, while current management and board are expected to remain in place. The transaction remains subject to customary closing conditions and regulatory approvals.
Brightray cuts data center delivery timelines to six-to-nine months
Brightray, founded by Bin Wang and previously backed by Tencent-linked investors, builds more than 90% of a facility off-site, reducing typical 18-36 month delivery cycles to six to nine months. The company operates three delivery models: FPD for 15-50 MW blocks in six to nine months, IPD at roughly 7-14 months, and containerized CPD units, supporting racks from 13.5 kW air-cooled to 132-144 kW liquid-cooled. Its manufacturing base spans 126,000 square meters, is ISO-certified, and carries annual capacity of 300 MW.
Johor campus already delivers 70 MW to hyperscale clients
Brightray's flagship 120 MW Sedenak Tech Park campus in Johor, Malaysia, has 70 MW operating for leading internet and cloud clients; the first 20 MW phase was built in eight months, with 50 MW additional capacity scheduled. Johor is cited as Asia Pacific's largest data center market by Cushman & Wakefield.
Pipeline targets roughly 2 GW with an estimated $9 billion contract value
Management projects deliveries of approximately 1 GW over the next three fiscal years, with a pipeline expected to reach roughly 2 GW across Malaysia, Indonesia, Saudi Arabia, the UAE and the United States, representing a potential contract value near $9 billion. The pipeline includes signed projects, deals in final review, and letters of intent; not all are definitive contracts.
Market backdrop shows delivery, not demand, as the AI bottleneck
Data center demand is projected to nearly triple by 2030 to 219 GW, according to figures cited in the announcement, while NVIDIA CEO Jensen Huang has forecast $3-4 trillion in AI infrastructure spending this decade. A one-month delay on a 60 MW facility costs roughly $14.2 million, and Brightray's compressed timelines are estimated to add roughly $200 million in lifetime revenue generation for a single 50 MW AI room, based on McKinsey, JLL and SemiAnalysis data. More than 80 vendors operate in the modular data center space, though few carry Brightray's hyperscale delivery record.
Platform targets compatibility with NVIDIA's Vera Rubin and AMD architectures
Brightray's air-cooled facilities already support NVIDIA B300 racks, while field-supplied liquid-cooled modules connect with GB300 NVL systems. Rubin-generation architectures spanning 300-600 kW are in co-design, alongside 235 kW systems such as AMD's Helios. BUUU intends to pursue reference architecture certification with major vendors once the acquisition closes.
BUUU management said the company is targeting the constraining factor in AI economics: buildings, power and cooling. Bin Wang stated that Brightray has turned the data center into one of the fastest components of AI deployment rather than one of the slowest, and that partnering with BUUU provides the capital base to scale the model globally.
Private placements to fund capacity expansion
BUUU has separately signed private placement agreements with certain investors that, combined with potential cash exercise of outstanding call options at $10.00 per share, are expected to generate total gross proceeds exceeding $60 million. Proceeds are earmarked for capacity expansion and working capital needs, with the financing subject to customary closing conditions.