Data Center Company Equinix Completes Acquisition of Telecity Group
January 21, 2016
Data center company Equinix, Inc. (Equinix) has completed its acquisition of Telecity Group plc (Telecity Group). Equinix, which has head offices in Redwood City, California, United States, provides a range of internet services including enterprise solutions and manages an extensive network of ‘carrier-neutral’ data centers. The company also offers cloud services. The deal cost approximately $3.8 billion (including 6.8 million Equinix shares) and this is the third acquisition the company has made in the last year.
Telecity Group was established in 1998 and has headquarters in London, United Kingdom. The company offers collocation services through its network of data centers. Equinix’s acquisition of the company adds more than 40 data centers to its network and significantly increases its presence in Europe by extending its platform into seven important European markets, with data centers added in Bulgaria, Finland, Ireland, Italy, Poland, Sweden and Turkey. The acquisition also adds around 1,000 new customers to Equinix’s books. Telecity's Chairman, John Hughes, will join Equinix’s Board of Directors.
"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,” explained Equinix’s President and CEO, Steve Smith. “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."
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