Summary
Equinix Inc. (EQIX) has announced the completion of its acquisition of IXEurope Plc, a significant move that expands Equinix's European data center footprint. The acquisition, valued at approximately £270.1 million (or $540.6 million) on a fully diluted basis, involved the purchase of all outstanding shares of IXEurope at 140 British pence per share. To finance this acquisition, Equinix concurrently launched a debt and common stock offering on September 14, 2007. The filing also includes updated financial guidance for Equinix for the quarter ending September 30, 2007, and for the full years ending December 31, 2007, and 2008, as well as a detailed Management's Discussion and Analysis (MD&A) of IXEurope's financial condition and results of operations. This acquisition represents a strategic expansion for Equinix into the European market.
Key Highlights
- 1Equinix has successfully completed the acquisition of IXEurope Plc for approximately £270.1 million ($540.6 million).
- 2The acquisition was implemented through a scheme of arrangement in the UK, making IXEurope a wholly-owned subsidiary of Equinix.
- 3Equinix is financing the acquisition through a concurrent debt and common stock offering launched on the same day.
- 4The report includes updated financial guidance for Equinix for the upcoming quarters and fiscal years.
- 5Detailed financial information and operational analysis for IXEurope, prepared under IFRS, are provided.
- 6IXEurope reported significant revenue growth, particularly in its colocation and power services, with over 85% of its revenues being recurring.
- 7IXEurope has been expanding its data center capacity across Europe, with new sites and expansions in London, Paris, and Germany.