September 11, 2017
REDWOOD CITY, Calif., Sept. 11, 2017 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced that it has entered into an agreement with The Carlyle Group for the purchase of Itconic, a leading data center, connectivity and cloud infrastructure solutions provider in Spain and Portugal, and CloudMas, an Itconic subsidiary that is focused on supporting enterprise adoption and use of cloud services. Itconic generated approximately €55.5M or approximately $66.8M U.S. dollars of revenues for the period Q2 2017 annualized. Equinix will purchase the companies in an all-cash transaction totaling €215M or approximately $259M U.S. dollars. The agreement was signed on September 8, 2017, and the acquisition is expected to close in Q4 2017, subject to customary closing conditions including regulatory approval.
The acquisition of Itconic will further strengthen Equinix's position in Europe and will extend its footprint into two new countries within the region. The acquisition will include five data centers in four metros, with two located in Madrid, one in Barcelona, one in Seville, and one in Lisbon, and adds approximately 322,000 gross square feet to the Equinix International Business Exchange™ (IBX®) data center portfolio. In addition, the CloudMas business brings a highly experienced team of technology professionals with deep expertise in hybrid cloud architectures and cloud adoption and migration strategies.
Equinix, Inc. (NASDAQ: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most interconnected data centers. In 44 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies. www.equinix.com.
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual results to differ materially from expectations discussed in such forward-looking statements, including statements related to the acquisition of Itconic, the expected benefits from the acquisition and the expected timing for closing the acquisition. Factors that might cause such differences include, but are not limited to, the failure of one or more conditions to the closing of the acquisition of Itconic to be satisfied; the occurrence of any event, change or other circumstance that would compromise our ability to complete the acquisition of Itconic within the expected timeframe or at all; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix, including Itconic; the challenges of acquiring, operating and constructing IBX data centers and developing, deploying and delivering Equinix services; a failure to receive significant revenue from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; 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 our key customers; and other risks described from time to time in Equinix's filings with the Securities and Exchange Commission. In particular, see Equinix's recent quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
SOURCE Equinix, Inc.
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