Equinix has announced its planned entry into the Philippines through the acquisition of three data centers from Total Information Management (TIM), a prominent technology solutions provider. This strategic move, following recent expansions in Malaysia and Indonesia, aims to help businesses leverage the digital opportunities in the rapidly growing Southeast Asia region. The all-cash transaction, valued at approximately 15 times the projected EBITDA at full utilization, is expected to close in the second half of 2024, pending customary closing conditions.
The acquisition will enable Equinix to meet the digital needs of local and international businesses in the Philippines. Enterprises, cloud and IT service providers, and network service providers worldwide can use Platform Equinix® to interconnect and exchange data securely within a vibrant ecosystem of business partners and customers. TIM’s existing customers, including network and financial services companies, will also gain access to Equinix’s global ecosystem of over 10,000 companies, including more than 2,000 networks and 3,000 cloud and IT service providers. With the Philippines’ digital economy expected to grow to $35 billion by 2025, driven by a highly engaged digital population and government initiatives, this acquisition positions Equinix to support the country’s surging demand for digital infrastructure services.
Key Points:
- Acquisition includes three carrier-neutral data centers with over 1,000 cabinets and land for expansion.
- Equinix’s expansion in Southeast Asia supports digital transformation for local and global customers.
- Equinix is also expanding into Jakarta, Indonesia, and Chennai, India, and increasing its footprint in Singapore.
- Platform Equinix spans 260 data centers across 71 metros in 33 countries, including 56 data centers in 14 key metros in Asia-Pacific.
- The Philippines’ digital economy is projected to reach $35 billion by 2025, growing at a 20% CAGR.