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)
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)
Currently, there's no company description for TLCTF.
Industry: Business Services
Country: United Kingdom
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