Equinix completed its acquisition of TelecityGroup plc, more than doubling its data center capacity in Europe and fortifying its position as the largest retail colocation provider in the region. The deal was valued at approximately $3.8 billion (compromised of $1.7 billion in cash and the issuance of approximately 6.8 million shares of Equinix common stock valued at approximately $2.1 billion).
Equinix said the TelecityGroup acquisition adds 40+ data centers in key European markets, while also adding critical network and cloud density to better serve enterprise customers who see interconnection as a core IT design principle and are increasingly moving to highly interconnected, global data centers for accelerated business performance and innovation. Specifically, Equinix will add data center facilities in Bulgaria, Finland, Ireland, Italy, Poland, Sweden and Turkey. Telecity also brings more than 1,000 net new customers to Equinix, including more than 200 network and mobility companies and more than 300 cloud and IT services companies.
“Today is a very important day for Equinix as we close the acquisition of Telecity, which is a significant milestone in our 17-year history. By increasing the scale of the Equinix interconnection platform in key markets throughout Europe, we are able to better serve global enterprises while creating meaningful shareholder value,” stated Steve Smith, president and CEO, Equinix.
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