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
Highlights / Key Facts
- The acquisition of
Telecityenhances Equinix'sexisting data center portfolio by adding seven new markets in Europeand 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, Swedenand Turkey.
- Through the acquisition,
Telecitybrings 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. Equinixhas made three acquisitions in the last twelve months including professional services company Nimbo in the U.S. in January 2015and Bit-isle in Japanin November 2015. The Telecityand Bit-isle acquisitions significantly expand Equinix'sglobal 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
Telecityshareholders 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 billionand the issuance of approximately 6.8 million shares of Equinixcommon stock valued at approximately $2.1 billionbased on the closing price of Equinixcommon stock as of January 14, 2016. This amount excludes any value attributed to the Telecityemployee equity awards assumed, which will be finalized at a later date. Telecity'sChairman, John Hughes, will be joining the Board of Directors of Equinix, Inc., and Equinix'sEMEA President, Eric Schwartz, will serve as the head of the combined regional business in EMEA. Equinixwill further discuss the financial results of the Telecityand Bit-isle acquisitions during its regularly planned Q4 earnings call in February 2016.
Steve Smith, president and CEO, Equinix:
"Today is a very important day for
John Hughes, outgoing executive chairman, TelecityGroup, and board member, Equinix:
"The combination of
- Equinix Extends Global Data Center Leadership as Telecity Deal Goes Final [blog]
- European Commission Grants Clearance for Equinix Offer to Acquire Telecity [press release]
Equinixmakes Recommended Offer for TelecityGroup [press release]
- Recommended Cash and Share Offer for
Telecity Group PLCby Equinix, Inc.[press release]
Forward Looking Statements
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual results to differ materially from expectations discussed in such forward-looking statements, including statements related to the acquisition of
As required under the UK Takeover Code, the directors of
International Business Exchange is a trademark of
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