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In order to meet changing business needs, global enterprises continue to outsource IT, but increasingly require connectivity to service providers and business partners in multiple markets – a key benefit of Equinix’s global interconnection platform. Today, 54 percent of Equinix’s revenue comes from customers deployed globally across all three of its regions (Americas, APAC and EMEA), and over 83 percent of revenue is from customers deployed across multiple metros, a reflection of the company’s differentiated scale and global reach. With new data centers and increased interconnection in Europe, Equinix builds on its global market leadership, and creates new opportunities to grow business ecosystems around the world.
The acquisition of Telecity enhances Equinix’s existing data center portfolio by adding seven new markets in Europe and provides customers even more ways to connect with other businesses around the world on Platform Equinix™. Equinix will add data center facilities in Bulgaria, Finland, Ireland, Italy, Poland, Sweden and Turkey.
Through the acquisition, Telecity 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. This further strengthens the business ecosystems found inside of Equinix International Business Exchange IBX® data centers and provides customers with the broadest choice of service providers for IT and multi-cloud deployments to accelerate business performance.
Equinix has made three acquisitions in the last twelve months including professional services company Nimbo in the U.S. in January 2015 and Bit-isle in Japan in November 2015. The Telecity and Bit-isle acquisitions significantly expand Equinix’s global platform (after planned divestitures) from 105 data centers in 33 metros to 145 in 40 metros.
Originally announced in May as a recommended cash and share offer, the transaction was approved earlier this week by Telecity shareholders and the scheme of arrangement used to implement the acquisition was approved by the applicable court in the United Kingdom, both steps required for closing the transaction.
The transaction was comprised of a cash payment of approximately $1.7 billion and the issuance of approximately 6.8 million shares of Equinix common stock valued at approximately $2.1 billion based on the closing price of Equinix common stock as of January 14, 2016. This amount excludes any value attributed to the Telecity employee equity awards assumed, which will be finalized at a later date.
Telecity’s Chairman, John Hughes, will be joining the Board of Directors of Equinix, Inc., and Equinix’s EMEA President, Eric Schwartz, will serve as the head of the combined regional business in EMEA.
