Telecity Group Plc (TLCTF) - Grey Market
  • 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
  • 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
Company Description
Currently, there's no company description for TLCTF.
Sector: Services
Industry: Business Services
Country: United Kingdom