EQIX
Equinix, Inc.NASDAQ
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  • Tue, Dec. 6, 7:51 AM
    • As has been rumored for a couple of months, Verizon (NYSE:VZ) has sold its data center business to Equinix (NASDAQ:EQIX), according to Bloomberg.
    • No details are yet known, but the deal value has previously been estimated at $3.5B.
    • Update at 8:05 ET: The deal is for a portfolio of 24 data center sites across 15 metro areas, and the price is $3.6B. It's expected to close by mid-2017.
    • A conference call is set for 8:30 ET.
    | Tue, Dec. 6, 7:51 AM | 1 Comment
  • 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."
    | Wed, Oct. 5, 7:20 PM | 10 Comments
  • Tue, Jul. 5, 4:54 PM
    • Digital Realty (DLR +2.1%) has completed an $874M acquisition of eight European data centers from Equinix (EQIX -0.2%).
    • That deal is part of a divestment that Equinix undertook as a condition requested by the European Commission, tied to Equinix's purchase of TelecityGroup.
    • Equinix also entered a deal with Digital Realty to pay €189.75M for Digital Realty's operating business in St. Denis, Paris, including real estate and data center there.
    • Digital Realty's purchase comes at a multiple of about 13 times the portfolio's expected 2016 EBITDA. It includes five properties in London, two in Amsterdam and one in Frankfurt, and provides about 6.9 megawatts of fully installed power and 62,700 net sellable square feet.
    | Tue, Jul. 5, 4:54 PM | 4 Comments
  • Fri, Jan. 15, 11:25 AM
    • Equinix (EQIX -2.1%) has closed on its acquisition of TelecityGroup (OTCPK:TLEIY), creating the biggest data center player in Europe, with the transaction finishing at £2.6B (about $3.8B).
    • Equinix more than doubles its capacity in Europe by adding 40-plus data centers as well as seven new markets. The company also gains more than 1,000 net new customers including more than 200 network/mobility companies, and more than 300 cloud and IT services companies.
    • The deal came to a cash payment of about $1.7B and issuing some 6.8M shares of Equinix common stock, valued at about $2.1B.
    • Along with the transaction, Telecity Chairman John Hughes has joined the Equinix board.
    • The company will discuss financials around the deal in its February earnings call.
    • Previously: Equinix CIO: Company about 'interconnection,' moving beyond data centers (Jan. 07 2016)
    • Previously: European regulators give conditional OK to Equinix's Telecity buyout (Nov. 13 2015)
    | Fri, Jan. 15, 11:25 AM
  • Nov. 23, 2015, 8:34 PM
    • Data center operators probably aren't in a buying mood for facilities that might be for sale -- particularly CenturyLink's, Macquarie suggests in a new report -- but private-equity firms could come in with bids.
    • CenturyLink (NYSE:CTL), the nation's third-largest local phone company, plans to sell 59 centers worldwide, and while Macquarie had thought Digital Realty Trust (NYSE:DLR) would get involved, analyst Kevin Smithen has changed his view after attending an industry trade show.
    • He now doubts that a buyer will come from among Digital Realty, DuPont Fabros (NYSE:DFT), Equinix (NASDAQ:EQIX), CyrusOne (NASDAQ:CONE), CoreSite or QTS Realty, with a limited "pool of logical and capable buyers" for assets from CenturyLink, or from Verizon (NYSE:VZ) or AT&T (NYSE:T). But near term, "private equity seems like the most likely acquirer of assets this size."
    • While CenturyLink assets are for sale, Verizon CFO Fran Shammo tried to shut down "speculative" reports that the company would pursue $10B in asset sales.
    | Nov. 23, 2015, 8:34 PM | 3 Comments
  • Nov. 13, 2015, 11:34 AM
    | Nov. 13, 2015, 11:34 AM
  • Nov. 4, 2015, 1:45 PM
    • Equinix (NASDAQ:EQIX) is 1.8% lower today, after saying it's completed its $280M cash tender offer for Tokyo's Bit-isle.
    • The move by the California-based firm creates the fourth-largest data center operator in Japan. Equinix will begin reporting consolidated financials as of Nov. 2 and acquire the remaining shares by the end of the year (97% of equity interests were tendered).
    • With Bit-isle's six facilities, Platform Equinix has 111 data centers in 33 markets. Zacks had bumped Equinix up to Strong Buy on the deal, thinking it would strengthen the company's portfolio in a major trade hub and financial center.
    • Last week, Raymond James boosted its price target to $335 (it rates it a Strong Buy), Jefferies boosted to $330 (Buy), Cowen to $300 (Market Perform), Canaccord to $320 (Buy) and RBC Capital to $325 (Outperform). Shares are trading currently at $293.91.
    • Previously: Equinix moves on $280M offer for Tokyo's Bit-Isle (Sep. 08 2015)
    | Nov. 4, 2015, 1:45 PM
  • Oct. 23, 2015, 10:24 AM
    | Oct. 23, 2015, 10:24 AM
  • Sep. 25, 2015, 9:29 AM
    • Europe antitrust regulators say they are are set to rule on Equinix's (NASDAQ:EQIX) £2.4B deal to acquire the UK's Telecity Group (OTCPK:TLEIY) -- and become the top data-center operator in Europe -- by Oct. 29.
    • Equinix filed for EU approval on the deal yesterday, according to a filing.
    • The deal came amid a spate of merger talks in May that prompted Telecity to drop its own $2.2B offer for InterXion. The Equinix-Telecity combo would have leading market share in Europe (by square feet) of more than 9%.
    • Previously: In merger's wake, InterXion confirms end to its Telecity agreement (May. 29 2015)
    • Previously: Equinix to acquire Telecity for £2.35B (May. 29 2015)
    | Sep. 25, 2015, 9:29 AM
  • Sep. 8, 2015, 9:04 AM
    • Equinix (NASDAQ:EQIX) has begun a $280M cash tender for the shares of Tokyo data center operator Bit-Isle, a move that would create the fourth-largest operator in Japan.
    • The offer, through its Equinix Japan subsidiary, is for ¥922/share and conditioned on the successful tender of more than two thirds of shares.
    • Major shareholders of Bit-Isle (Warehouse Terrada, Kohei Terada and Yasunobue Terada) have agreed to tender their holdings, coming to 29.7%.
    • It would add five data centers in Tokyo and one in Osaka, close to existing Equinix International Business Exchange centers. With the completion of TY5 and the deal in Q1, Equinix would have 10 IBX data centers in Tokyo and two in Osaka.
    • Equinix expects to complete the acquisition in early 2016, and says it will be accretive to adjusted FFO on the closing.
    • Previously: Equinix to acquire Telecity for £2.35B (May. 29 2015)
    | Sep. 8, 2015, 9:04 AM
  • May 29, 2015, 11:05 AM
    • As expected, Equinix's (NASDAQ:EQIX) €2.35B deal for Telecity (OTCPK:TLEIY), creating the key player in European data centers, has blown up Telecity's $2.2B deal for InterXion (NYSE:INXN).
    • In a statement, InterXion confirmed the companies have terminated their agreement and used the opportunity to reaffirm 2015 guidance for revenues of €375M–€388M, adjusted EBITDA of €162M–€172M and capex of €180M–€200M.
    • Analysts expect 2015 revenues of €383.6M and EBITDA of €168.6M.
    • The closure of the Equinix-Telecity deal will leave that combination with a 9.03% European market share (by operational square feet) vs. InterXion's 3.5%.
    | May 29, 2015, 11:05 AM
  • May 29, 2015, 3:30 AM
    • Creating the largest data center player in Europe, Equinix (NASDAQ:EQIX) has agreed to buy U.K. firm Telecity Group (OTCPK:TLEIY) in a deal worth £2.35B ($3.6B).
    • Equinix said the deal would see each Telecity Group shareholder receive 572.5 pence in cash for each share, a 27.3% premium to the firm's closing price on May 6 before talks were announced, as well as 0.0327 new Equinix shares.
    • Previously: Reuters: Equinix closes in on Telecity deal (May. 28 2015)
    | May 29, 2015, 3:30 AM
  • May 28, 2015, 6:30 PM
    • American data-center company Equinix (NASDAQ:EQIX) is in the final stages of a deal to acquire UK firm Telecity Group (OTCPK:TLEIY), and it could be announced as early as tomorrow, Reuters is reporting.
    • There's no news on deal price, though Equinix had reportedly floated the sum of £2.3B ($3.5B) -- 54% in cash, 46% in stock -- in early negotiations.
    • Equinix had to sort out any offer for Telecity by this time next week.
    • Speculation about this deal this month has thrown into question Telecity's own existing agreement to acquire InterXion Holding (NYSE:INXN) for $2.2B.
    • Of 27M square feet of data-center space in Europe, it's estimated that Equinix has 5.3%, Telecity 3.7% and InterXion 3.5% -- so whichever combination emerges will become a key player in a sector that is bound for more M&A activity.
    | May 28, 2015, 6:30 PM
  • May 7, 2015, 8:49 AM
    • UK-based data-center firm Telecity (OTCPK:TLEIY) says it's beginning talks to be taken over by Equinix (NASDAQ:EQIX) -- which is casting doubt on Telecity's already-agreed $2.2B deal to buy InterXion Holding (NYSE:INXN) from earlier this spring.
    • Equinix is up 2.2% in U.S. premarket trading.
    • Telecity's all-stock deal with Dutch firm InterXion prohibited either from talking with others, with few exceptions, though Telecity says it believes fiduciary duty requires it to listen to Equinix.
    • Equinix's offer would be for $3.5B and be 54% cash and 46% stock and establish the combo as Europe's top player in the industry, leaving InterXion a bit in the lurch. For its part, InterXion says it's committed to its "strategically compelling" deal with Telecity.
    • Equinix must decide on an offer for Telecity by June 4.
    • Telecity is up 19.4% in London trading.
    • Earlier: InterXion Holding beats by €0.01, beats on revenue (May. 07 2015)
    | May 7, 2015, 8:49 AM
  • Jan. 20, 2015, 6:44 PM
    • Equinix (NASDAQ:EQIX) has acquired Nimbo, an IT services firm focused on helping enterprises implement hybrid clouds. Terms are undisclosed.
    • Nimbo's services include helping migrate business apps to cloud environments, integrating/connecting traditional data centers with cloud servers, and managing hybrid clouds. Though growing quickly and claiming Fortune 100 clients, 2014 revenue was below $10M.
    • Equinix, which counts plenty of major enterprises among its data center clients, says Nimbo will help build Equinix's "professional services capabilities to support data center migrations, WAN optimization and the creation of scalable, high performing hybrid cloud solutions."
    | Jan. 20, 2015, 6:44 PM
  • Oct. 9, 2013, 10:12 AM
    • Equinix (EQIX +0.2%) has acquired Kleyer 90, a Frankfurt carrier hotel - a data center colocation facility used by carriers to shuffle traffic between each other - from a private German investor. Terms are undisclosed. (PR)
    • The purchase complements Equinix's existing data center properties in Frankfurt, one of Europe's largest Internet traffic hubs. Within Frankfurt, the company already runs Campus Kleyer, a giant facility consisting of two major data centers (partly based out of Kleyer 90), and Ancotel, a colocation/interconnection services provider (fully based out of Kleyer 90).
    • News of the deal comes after Equnix upsized a credit facility by $250M.
    | Oct. 9, 2013, 10:12 AM