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Equinix $EQIX to Acquire Portfolio of 24 Data Center Sites from Verizon for $3.6B

Equinix $EQIX to Acquire Portfolio of 24 Data Center Sites from Verizon for $3.6B

Redwood City, Calif.-based Equinix Inc. (NASDAQ: EQIX), a global interconnection and data center company, said it agreed to acquire a portfolio of 24 data center sites and their operations from Verizon Communications Inc. (NYSE, NASDAQ: VZ) for $3.6 billion in cash. The 24 sites consist of 29 data center buildings across 15 metro areas. The portfolio includes approximately 900 customers, with a significant number of enterprise customers new to Equinix’s platform, and it adds approximately 2.4 million gross square feet. It will bring Equinix’s total global footprint to 175 data centers in 43 markets and approximately 17 million gross square feet across the Americas, Europe and Asia-Pacific markets. “This unique opportunity complements and extends Equinix’s strategy to expand our global platform,” said Equinix president and CEO Steve Smith. It enables us to enhance cloud and network density to continue to attract enterprises, while expanding our presence in the Americas. The new assets will bring hundreds of new customers to Platform Equinix while establishing a presence in new markets and expanding our footprint in existing key metros.” The deal is expected to close by mid-2017, subject to customary closing conditions. The deal will strengthen Equinix’s global platform by increasing interconnection in the U.S. and Latin America, opening three new markets in Bogotá, Culpeper and Houston, and accelerating Equinix’s penetration of the enterprise and strategic market sectors, including government and energy. Approximately 250 Verizon employees, primarily in the operations functions of the acquired data centers, will become Equinix employees. Equinix was advised by Evercore J.P. Morgan Securities LLC and Davis Polk & Wardwell LLP.]]>