Today, 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%.
Yesterday, 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.
Thu, May 7, 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)
Tue, Mar. 3, 9:48 AM
- In taking an 86.7% stake in Germany's e-Shelter, Nippon Telegraph & Telephone (NTT -0.8%) makes itself a key player in Europe's data center industry, jumping into the No. 3 spot in the market.
- E-Shelter is Germany's top operator of data center services, managing 90K square meters of space in Germany, Switzerland and Austria.
- The hotly contested market is growing at 9% a year, according to Gartner.
- For its part, NTT operates more than 130 data centers worldwide.
- The move follows shortly behind a merger of Telecity (OTCPK:TLEIY) with InterXion (NYSE:INXN) to create a leader in that space.
INXN vs. ETF Alternatives
InterXion Holding NV provides cloud- & carrier-neutral colocation data centre services. Its services includes space, power, cooling and a secure environment in which to house itscustomers' computing, network, storage and IT infrastructure.
Other News & PR