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Equinix closes acquisition of Itconic

Equinix closes acquisition of Itconic

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Equinix, the global interconnection and data centre company, today announced that it has closed the transaction for the purchase of Itconic, a leading data centre, 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. Equinix purchased the companies in an all-cash transaction totalling €215M (approximately US$259M) from The Carlyle Group. The transaction includes five data centres in total in Madrid, Barcelona, Seville and Lisbon, expanding Platform Equinix™ into Iberia.

The agreement was signed on September 8, 2017 and the acquisition was completed on October 9, 2017.

Highlights/Key Facts:

  • The acquisition of Itconic further strengthens Equinix’s position in Europe and will extend its footprint into two new countries within the region. The acquisition includes five data centres 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 centre portfolio. Itconic generated approximately €55.5M or approximately US$66.8M of revenue for the period Q2 2017 annualised.
  • The Cloudmas business brings to Equinix a highly-experienced team of technology professionals with deep expertise in hybrid cloud architectures and cloud adoption and migration strategies. The acquisition adds more than 250 employees to the Equinix team in Europe. Many members of the Cloudmas team have earned certifications for deployment and support of services on leading cloud platforms.
  • With the current IT transformation underway, enterprises increasingly require low-latency network connectivity, access to cloud service providers in top global markets, and interconnection with customers and partners across their digital supply chain to run their corporate IT. Equinix’s global data centre footprint now enables businesses in Spain and Portugal to evolve from traditional businesses to “digital businesses” with the ability to globally interconnect with people, locations, cloud services and data. Additionally, customers will have the opportunity to operate on an expanded global platform to process, store and distribute larger volumes of latency-sensitive data and applications at the digital edge, closer to end-users and local markets.
  • Earlier this week Equinix also announced that it had acquired a new data centre in Istanbul Turkey – IS2. With these transactions Equinix now operates more than 185 IBX data centres in 48 markets, providing customers even more ways to connect with other businesses around the world on Platform Equinix™.
  • Bank Street served as Equinix’s financial adviser, and Uria Menendez acted as Equinix’s external legal advisers in connection with this transaction.

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