Thu, Nov. 17, 11:34 AM
- Lumos Networks (LMOS +0.6%) is providing fiber connectivity to Equinix (EQIX -0.4%) IBX data centers in Ashburn, Va. (DC1 and DC2), and Chicago, adding state-of-the-art facilities to its network.
- The company offers Ethernet service to the Chicago site, and Ethernet and Wavelength connectivity to the Ashburn centers.
- Lumos also connects to the Equinix Cloud Exchange (interconnection for private access to multiple cloud providers), with Ethernet service.
Wed, Nov. 2, 5:18 PM
Wed, Nov. 2, 4:10 PM
Tue, Nov. 1, 5:35 PM
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Wed, Oct. 5, 7:20 PM
- Verizon (VZ -0.8%) is finally close to selling its data center business -- and Equinix (EQIX +0.1%) is likely the buyer, Cowen says.
- "We believe a transaction involving Verizon's co-location assets is imminent and that Equinix is the most likely acquirer," writes analyst Colby Synesael. That deal would come around $3.5B, he says.
- Verizon moved on news last fall that it would seek to sell enterprise assets and likely undo its 2011 $1.4B purchase of Terremark, though CFO Fran Shammo tried to tamp down those reports as "speculative."
- After a sales process reportedly launched in February, by summer the price tag had been reported as up to $3B, a price that weeds out several strategic buyers and left observers speculating about private-equity purchasers.
- "Based on our channel checks, we believe the portfolio includes 14 facilities which primarily include those Verizon inherited when it bought Terremark in 2011," Synesael says. "We estimate EQIX could pay 13 to 13.5 times EBITDA, or $3.5 billion, and believe such a transaction would be viewed as positive for Equinix and neutral to Verizon."
Tue, Sep. 20, 6:39 PM
- Equinix (EQIX -3.2%) fell today during CFO Keith Taylor's presentation to the Goldman Sachs Communacopia conference, during which he noted some challenges with recent deals, before recovering some after the talk.
- The complex enterprise market the company is facing is harder to sell into, and it's harder to book and record revenues, Taylor said.
- The company did reiterate August Q3 guidance for 2.4% sequential growth in constant currency; up 13.8% Y/Y, with EBITDA up 16.8% or better, and "AFFO will grow at north of 30%, so overall, very delighted with where we are from a performance perspective."
- That outlook helped lead Cowen's Colby Synesael to reiterate an Outperform rating, saying Taylor didn't sound all that negative to him.
- Using words like "disciplined" and "thoughtful" are just proper results of building a good moat in a tough business, Synesael writes. "Importantly we do not believe the company was talking down numbers or indicating that the environment has materially changed in any direction. If we do want to take a glass half empty approach we could see how some people may interpret his words that there is limited upside to current 2016 expectations but even that seems a bit of a stretch."
- Synesael has a $409 price target on EQIX, implying 15% upside from today's close.
Thu, Sep. 1, 3:36 PM
- Equinix (EQIX -0.7%) has boosted Brian Lillie to the role of chief customer officer, and executive vice president of technology services.
- Lillie has been the global chief information officer for the past eight years; he'll be replaced there by Milind Wagle, who was formerly VP of Global IT.
- In Lillie's new role, he'll directly lead the Global Customer Success organization in support of more than 8,000 customers.
- Wagle has been with Equinix for six years after leadership positions at VeriSign, KPMG Consulting and BearingPoint.
Wed, Aug. 31, 8:07 PM
- Equinix (NASDAQ:EQIX) has finished a second phase of its expansion of a data center in Slough, London.
- The company invested $42M in the LD6 International Business Exchange center, adding 1,385 cabinets to bring total capacity to 2,770 cabinets.
- Following the investment, LD6 offers more than 408,000 square feet of net premium co-location space.
- The site houses LINX, one of the world's largest Internet Exchanges, as well as a number of financial customers including Beeks Financial Cloud and CFH Clearing.
Tue, Aug. 30, 8:45 PM
- Equinix (NASDAQ:EQIX) says that voice-over-IP provider Telnyx is partnering with it to expand its VoIP platform to Europe and Asia.
- Telnyx will add Performance Hub nodes in Equinix's London and Hong Kong International Business Exchange centers in the deal. It expects to improve network performance by more than 60%.
- Telnyx has worked with Equinix to establish a five-node network, connecting those London and Hong Kong centers with existing Performance Hub deployments in Chicago, Silicon Valley and Washington, D.C. The regional spread ensures customers can get their call processed at a nearby physical point of presence.
Mon, Aug. 22, 8:11 PM
- Equinix (NASDAQ:EQIX) has opened its newest data center in Sydney.
- The $97M SY4 facility is an International Business Exchange center with a capacity of 1,500 cabinets in phase one; phase two and completion will bring total capacity of 3,000 cabinets with usable floor space of more than 135,000 square feet.
- More than 20 customers have been added already, and SY4 will be a point of presence for network providers including TPG Telecom and Vocus.
- The data center marks Equinix's fifth in Australia, including three others in Sydney and one in Melbourne; and a total of 29 IBX centers in APAC across five countries and eight metros.
Wed, Aug. 3, 5:41 PM
Wed, Aug. 3, 5:26 PM
- Equinix (NASDAQ:EQIX) beat revenue expectations with its Q2 earnings and posted solid Q/Q gains in income and funds from operations.
- EBITDA of $420.3 was up 35% Y/Y and beat an expected $406.8M; it included $12.1M contribution from the Bit-isle acquisition and $51.9M from Telecity.
- Operating income rose 35% sequentially to $151.7M, and adjusted FFO came in 38% higher sequentially to $290.5M.
- It's guiding to full-year revenues from continuing operations of $3.598B-$3.608B (32% growth), assuming $550M-$560M in revenues from the acquisitions of Bit-isle and Telecity. It's forecasting EBITDA of $1.658B-$1.668B and adjusted FFO of $1.04B-$1.05B (up 26%).
- Conference call at 5:30 p.m. ET.
- Earnings slides
- Press Release
Wed, Aug. 3, 4:13 PM
Tue, Aug. 2, 5:35 PM
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Mon, Aug. 1, 5:20 PM
- Equinix (EQIX +1.6%) has wrapped its deal for the Paris data center of Digital Realty (DLR +2.1%) for €189.75M (about $211M).
- That adds about 1,000 cabinets of sold capacity to the 5,000 already sold in Equinix's PA2 and PA3 data centers and allows for another 1,000 cabinets worth of space in existing buildings.
- Equinix and Digital Realty had set the deal early in July, coinciding with an $874M purchase by Digital Realty of eight data centers from Equinix.
- The transactions were part of a divestment requested by the EC tied to Equinix's purchase of TelecityGroup.
Fri, Jul. 15, 12:36 PM
- Equinix (EQIX -1.5%) has earned a downgrade from Jefferies, which is seeing more limited upside at current valuations even as the opportunity to capture data-center investments remains.
- Analyst Mike McCormack downgraded the company to Hold, from Buy, but raised his price target to $400 from $380 (implying 5.9% upside from current levels).
- "We continue to believe Equinix is well positioned to benefit from the strong secular tailwinds of the cloud and an increasingly interconnected world," McCormack writes. "While estimates could push modestly higher, we believe upside is limited, and we look for a better entry point before becoming more constructive."
- The company guided to 10%-plus compound revenue growth over the next five years, McCormack notes, showing higher investment than expected, and he says some investors will question whether demand can support that spending in the medium term.