February 1, 2010
Switch and Data Stockholders Approve Merger with Equinix
Foster City, CA and TAMPA, FL - February 1, 2010 - Equinix, Inc. (NASDAQ: EQIX), a provider of global data center services, and Switch and Data Facilities Company, Inc. (NASDAQ: SDXC), a leading provider of network-neutral data center and Internet exchange services, today announced that Switch and Data stockholders have voted to approve Switch and Data's merger with and into Sundance Acquisition Corporation, a wholly-owned subsidiary of Equinix. More than 99% of votes were in favor of the merger, and the holders of more than 85% of Switch and Data's outstanding common stock participated in the vote
Completion of the merger remains subject to the expiration or termination of the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended, and the satisfaction or waiver of the other closing conditions specified in the merger agreement between Equinix and Switch and Data. The merger is expected to close in the second quarter of 2010. Switch and Data will announce the expected closing date of the merger by issuing a press release and filing that press release on Form 8-K with the Securities and Exchange Commission no later than five business days before the expected closing date.
Equinix, Inc. provides global data center services that ensure the vitality of the information-driven world. Global enterprises, content and financial companies, and more than 350 network service providers rely upon Equinix's insight and expertise to protect and connect their most valued information assets. Equinix operates 45 International Business Exchange™ (IBX®) data centers across 18 markets in North America, Europe and Asia-Pacific.
Important information about Equinix is routinely posted on the investor relations page of its website located at www.equinix.com/investors. We encourage you to check Equinix's website regularly for the most up-to-date information.
About Switch and Data
Switch and Data is a premier provider of network-neutral data centers that house, power and interconnect the Internet. Leading content companies, enterprises and communications service providers rely on Switch and Data to connect to customers and exchange Internet traffic. Switch and Data has built a reputation for world-class service, delivered across the broadest collocation footprint and richest network of interconnections in North America. Switch and Data operates 34 sites in the U.S. and Canada, provides one of the highest customer satisfaction scores for technical and engineering support in the industry, and is home to PAIX® - the world's first commercial Internet exchange.
Important information about Switch and Data is routinely posted to the investor relations section of the company's website www.switchanddata.com. For copies of all Switch and Data press releases and SEC filings, please visit the website. To automatically receive Switch and Data financial news by email, please visit the website and subscribe to Email Alerts. Investors are encouraged to check Switch and Data's website frequently to access the most up-to-date information.
Forward Looking Statements
This press release contains forward-looking statements about Equinix and Switch and Data, including the expected closing date of Equinix's acquisition of Switch and Data. In making any of these statements, the person making them believes that its expectations are based on reasonable assumptions. However, any such statement may be influenced by factors that could cause actual outcomes and results to be materially different from those projected or anticipated. These forward-looking statements are subject to numerous risks and uncertainties. There are various important factors that could cause actual results to differ materially from those in any such forward-looking statements, many of which are beyond the control of Equinix and Switch and Data, including unanticipated costs or difficulties relating to the integration of Switch and Data into Equinix; macroeconomic conditions and general industry conditions such as the competitive environment of the data center service industry; failure to complete any financing arrangements contemplated from time to time; labor relations; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from their key customers; regulatory and litigation matters and risks; changes in tax and other laws; the risk that a condition to closing of the transaction may not be satisfied and other risks to consummation of the transaction; and other risks described from time to time in Equinix's and Switch and Data's filings with the Securities and Exchange Commission. The actual results or performance by Equinix or Switch and Data, and issues relating to the transaction, could differ materially from those expressed in, or implied by, any forward-looking statements relating to those matters. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of Equinix or Switch and Data, the combined company or the transaction. Except as required by law, we are under no obligation, and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future events or otherwise.
Equinix and IBX are registered trademarks of Equinix, Inc. International Business Exchange is a trademark of Equinix, Inc.