Equinix to Buy Telecity for $3.6 Billion, Ending Dutch Deal

29 May 2015 | Author: | No comments yet »

Equinix agrees to buy Telecity Group for 2.35 billion pounds.

LONDON (Reuters) – U.S. data centre company Equinix Inc said on Friday it had agreed to buy British peer Telecity Group in a deal worth 2.35 billion pounds, creating the largest data centre player in Europe. Equinix said the deal would see each Telecity Group shareholder receive 572.5 pence in cash for each share, a 27.3 percent premium to the firm’s closing price on May 6 before talks were announced, as well as 0.0327 new Equinix Shares. Data-center companies are exploring mergers as consumers and companies use more of their services to store information remotely and access it on mobile phones, tablets and computers. Equinix, based in Redwood City, California, works in the U.S., Canada, Brazil, several countries in Europe and Asia, the United Arab Emirates and Australia.

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