Deal Timeline

Plotted by close date where disclosed, otherwise announcement. Select any marker to jump to the deal entry.

The Rationale That Repeats.

Three patterns show up across EQUINIX's deal book — what the team buys, how it pays, and how it integrates. The patterns are the throughline; the deals below are the evidence.

01
Acquisition criteria
Buy your way onto every continent.
Equinix has grown into the world's largest data center operator largely by acquiring incumbent operators market by market: TelecityGroup and Itconic in Europe, Bit-isle and Metronode in Asia-Pacific, GPX in India, Axtel and Entel in Latin America, and MainOne in West Africa - the latter marking Equinix's entry into Africa. Each deal extended Platform Equinix into a new geography with an established customer base rather than building from scratch.
Switch and Data Facilities CompanyTelecityGroup plcBit-isleVerizon data center portfolio (24 sites / 29 buildings)Zenium data center business (Istanbul)
02
Capital deployment
Carve data centers out of telecom and real estate owners.
Several of Equinix's largest deals were portfolio carve-outs from telcos and property owners rather than acquisitions of standalone colocation companies: the $3.6 billion, 29-building portfolio from Verizon; 13 Canadian data centers from Bell (BCE); data centers from Axtel and Entel in Latin America; and the $804 million purchase of the Infomart Dallas carrier hotel where Equinix was already a tenant. These deals let Equinix convert leased or third-party-operated capacity into owned, interconnection-dense assets.
Switch and Data Facilities CompanyTelecityGroup plcBit-isleVerizon data center portfolio (24 sites / 29 buildings)Zenium data center business (Istanbul)
03
Integration approach
Mostly data centers, with selective moves up the stack.
The overwhelming majority of Equinix's acquisitions add physical colocation and interconnection capacity, but the company has also bought capability: Nimbo (2015) for cloud-migration services and Packet (2020) for bare metal automation, which became the Equinix Metal on-demand compute service integrated with Equinix Fabric. These software and services deals are far smaller than the data center portfolios but extend Platform Equinix from real estate toward digital infrastructure services.
Switch and Data Facilities CompanyTelecityGroup plcBit-isleVerizon data center portfolio (24 sites / 29 buildings)Zenium data center business (Istanbul)

The Full Deal Book

13 acquisitions. Each entry carries the deal value, financing structure, target revenue, executive commentary, and the original SEC filing — the evidence behind the patterns above.

01 Switch and Data Facilities Company, Inc. · United States (16 new metropolitan areas across North America) $683.4M
Announced Oct 2009 Closed May 2010 combination
colocationinterconnectionpeering / Internet exchange (PAIX)managed services

Switch and Data Facilities Company, Inc. (Nasdaq: SDXC) was a U.S. data center and interconnection operator. The combined company operated more than six million gross square feet of global data center space with more than 575 network service providers, giving customers broader access to 35 global data center metropolitan areas across North America, Europe and Asia-Pacific. $683.4 million at close, comprised of approximately $134.0 million in cash and approximately 5.5 million shares of Equinix common stock valued at $549.4 million based on the April 30, 2010 closing price.

Why it was attractive
  • Added 16 new North American metros and 575+ network service providers
  • extending Equinix's interconnection ecosystem to 35 global metros
EQUINIX COMPLETES $683.4 MILLION ACQUISITION OF SWITCH AND DATA, STRENGTHENING ITS LEADERSHIP IN DATA CENTER SERVICESEquinix press release headline — May 3, 2010
02 TelecityGroup plc · Europe (United Kingdom-headquartered; data centers across major EU metros) $2,351.9M
Announced May 2015 Closed Jan 2016 combination
European colocationinterconnectionnetwork density across major EU metros

TelecityGroup plc, a public company organized under the laws of England and Wales, provided data center solutions across Europe. Equinix acquired it via a court-sanctioned scheme of arrangement under Rule 2.7 of the UK City Code on Takeovers and Mergers. Recommended cash-and-share offer valuing each TelecityGroup share at approximately 1,145.0 pence and TelecityGroup's entire issued and to-be-issued share capital at approximately GBP 2,351.9 million (~$3.8 billion); 572.5 pence in cash plus 0.0327 new Equinix shares per TelecityGroup share.

Why it was attractive
  • Largest European pure-play colocation operator at the time
  • adding significant interconnection density and metro coverage to Platform Equinix
On May 29, 2015, Equinix issued the Rule 2.7 Announcement disclosing the terms of the Transaction. For each TelecityGroup share, TelecityGroup shareholders will receive 572.5 pence in cash and 0.0327 new shares of Equinix common stock by means of a court sanctioned scheme of arrangement.Equinix Form 8-K — Item 1.01, filed May 29, 2015
Post-close · earnings-call commentary

Equinix FY2016 10-K: "The Company completed the TelecityGroup acquisition on January 15, 2016 ... TelecityGroup's operating results for the period January 15, 2016 through December 31, 2016 are included in the consolidated statement of operations for the year ended December 31, 2016."

03 Bit-isle, Inc. · Tokyo, Japan $245.6M
Announced Sep 2015 Closed Nov 2015 all cash
Japanese colocationdata center servicessolar power assets (later divested)

Bit-isle, Inc. is a Tokyo-based company that primarily provides data center services in Japan. The acquisition expanded Equinix's Asia-Pacific footprint; Bit-isle contributed approximately $148.7 million of revenue to the region in 2016. Approximately $245.6 million net of cash for the combined Bit-isle and Nimbo acquisitions (FY2016 10-K cash-flow disclosure).

Why it was attractive
  • Established Japanese data center operator that materially expanded Equinix's Asia-Pacific scale and revenue
On November 2, 2015, the Company acquired Bit-isle, Inc. ("Bit-isle"), a Tokyo-based company which primarily provides data center services in Japan.Equinix FY2016 10-K — business combinations disclosure
04 Verizon data center portfolio (24 sites / 29 buildings) · United States, Brazil and Colombia (15 metro areas; new markets Bogota, Culpeper, Houston) $3.6B
Announced Dec 2016 Closed May 2017 all cash
colocationinterconnection across the US and Latin Americagovernment/energy vertical relationships

A portfolio of 24 data center sites comprising 29 data center buildings across 15 metro areas, acquired from Verizon Communications Inc. The deal opened three new markets (Bogota, Culpeper and Houston) and accelerated Equinix's penetration of enterprise and strategic market sectors including government and energy. $3.6 billion in an all-cash transaction (cash purchase price of approximately $3.6 billion); funded with proceeds from debt and equity financings.

Why it was attractive
  • 29 strategic data center buildings deepening U.S. and Latin American interconnection and adding enterprise
  • government and energy customers
Equinix to Acquire Portfolio of 24 Data Center Sites from Verizon in $3.6 Billion Deal ... Equinix, Inc. today announced it has entered into a definitive agreement to purchase a portfolio of 24 data center sites and their operations from Verizon Communications Inc. for $3.6 billion in an all cash transaction.Equinix press release (Ex-99.1) — December 6, 2016
Post-close · earnings-call commentary

Equinix FY2018 10-K: "...the Verizon Data Center Acquisition from May 1, 2017..." and FY2018 10-K business note: "a cash purchase price of approximately $3.6 billion ... funded ... with proceeds from debt and equity financings."

05 Zenium data center business (Istanbul) · Istanbul, Turkey $92.0M
Announced Oct 2017 Closed Oct 2017 all cash
Istanbul colocation and data center operations

Zenium's data center business in Istanbul, acquired for a cash payment of approximately $92.0 million. The acquired intangible assets were customer relationships with an estimated useful life of 15 years; results reported in the EMEA region. Approximately $92.0 million (cash payment).

Why it was attractive
  • Entry into the Istanbul data center market with established customer relationships (15-year intangible life)
On October 6, 2017, the Company acquired Zenium's data center business in Istanbul for a cash payment of approximately $92.0 million.Equinix FY2018 10-K — business combinations disclosure
06 Itconic (and subsidiary CloudMas) · Spain and Portugal (Madrid x2, Barcelona, Seville, Lisbon) $220.5M
Announced Oct 2017 Closed Oct 2017 all cash
Iberian colocationdata center servicesenterprise cloud enablement (CloudMas)

Itconic, a data center provider in Spain and Portugal, including CloudMas, an Itconic subsidiary focused on supporting enterprise adoption and use of cloud services. The acquisition included five data centers in four metro areas - two in Madrid and one each in Barcelona, Seville and Lisbon. Cash purchase price of EUR 220.5 million, or approximately $259.1 million at the exchange rate in effect on October 9, 2017.

Why it was attractive
  • Five data centers in four Iberian metros plus the CloudMas cloud-enablement subsidiary
On October 9, 2017, the Company completed the acquisition of Itconic for a cash purchase price of EUR 220.5 million, or $259.1 million at the exchange rate in effect on October 9, 2017.Equinix FY2018 10-K — business combinations disclosure
07 Infomart Dallas · Dallas, Texas, United States $804.0M
Announced Apr 2018 Closed Apr 2018 combination
carrier-hotel / data center real estatecolocationinterconnection in Dallas

The 1.6 million-square-foot Infomart Building in Dallas, including its operations and tenants, where Equinix had already been operating four Equinix data centers. Acquired for approximately $804.0 million. Approximately $804.0 million, funded with approximately $45.8 million in cash and $758.2 million aggregate fair value of 5.000% senior unsecured notes.

Why it was attractive
  • Owning the interconnection-dense Infomart Dallas carrier hotel (1.6M sq ft) where Equinix already ran four IBX data centers
On April 2, 2018, we completed the Infomart Dallas Acquisition for a purchase price of approximately $804.0 million, which was funded with approximately $45.8 million in cash and $758.2 million aggregate fair value of 5.000% senior unsecured notes.Equinix FY2018 10-K — business combinations disclosure
08 Metronode (Australia) · Australia (10 data centers) $1.034B
Announced Apr 2018 Closed Apr 2018 all cash
Australian colocationdata center operations across multiple metros

Australian data center provider Metronode and its 10 data centers, acquired for a cash purchase price of A$1.034 billion (~$804.6 million). A$1.034 billion, or approximately $804.6 million at the exchange rate in effect on April 18, 2018 (cash).

Why it was attractive
  • 10 Australian data centers materially expanding Equinix's Asia-Pacific footprint
On April 18, 2018, we completed the Metronode Acquisition for a cash purchase price of A$1.034 billion or approximately $804.6 million at the exchange rate in effect on April 18, 2018.Equinix FY2018 10-K — business combinations disclosure
09 Axtel data center business (Mexico) · Mexico (3 data centers) $189.0M
Announced Jan 2020 Closed Jan 2020 all cash
Mexican colocation and data center operations

Three data centers in Mexico acquired from Axtel for a total purchase consideration of approximately $189.0 million. The acquisition supports Equinix's ongoing expansion to meet customer demand in the Americas region. Approximately $189.0 million total purchase consideration, including $175.0 million in cash and $14.0 million paid to the seller for recoverable VAT.

Why it was attractive
  • Three data centers expanding Equinix's Mexican and broader Americas footprint
On January 8, 2020, the Company completed the acquisition of three data centers in Mexico from Axtel for a total purchase consideration of approximately $189.0 million, including $175.0 million in cash and $14.0 million the Company paid to the seller for recoverable value-added taxes ("VAT").Equinix FY2020 10-K — business combinations disclosure
10 Packet Host, Inc. ("Packet") · United States (New York-headquartered) $290.3M
Announced Jan 2020 Closed Mar 2020 all cash
bare metal automationon-demand interconnected computedeveloper-oriented infrastructure provisioning

Packet, the leading bare metal automation platform. Packet's capabilities became Equinix Metal, which adds direct integration to Equinix Fabric and expands the services to new global locations, letting enterprises, SaaS companies and digital service providers provision interconnected bare metal resources in minutes instead of months. Total purchase consideration of approximately $290.3 million.

Why it was attractive
  • Leading bare metal automation platform that became Equinix Metal
  • adding developer-oriented on-demand compute integrated with Equinix Fabric
Equinix to Acquire Bare Metal Leader Packet ... Equinix, Inc. today announced it has signed a definitive agreement to acquire Packet, the leading bare metal automation platform. The acquisition will accelerate Equinix's strategy to help enterprises more seamlessly deploy hybrid multicloud architectures on Platform Equinix.Equinix press release (Ex-99.1) — January 14, 2020
11 GPX India (GPX Global Systems' India operations) · Mumbai, India (2 data centers) $161M
Announced Aug 2020 Closed Sep 2021 all cash
Mumbai colocationdense interconnectioninternet exchange presence

The India operations of GPX Global Systems, Inc. ("GPX India") - two world-class, highly interconnected data centers in Mumbai with more than 200 international brands and local companies, leading cloud service providers, networks, 130 ISPs and four internet exchanges. The acquisition extended Platform Equinix to India. All-cash transaction value of US$161 million (approximately 15x projected EBITDA at full utilization); total purchase consideration of approximately INR 12.5 billion, or $170.5 million at the exchange rate in effect at close.

Why it was attractive
  • Two network-dense Mumbai data centers (200+ brands
  • 130 ISPs
  • four internet exchanges) anchoring Equinix's entry into the fast-growing Indian market
Equinix Expands to India with Acquisition of GPX India ... The all-cash transaction value of US$161 million represents a multiple of approximately 15x the projected EBITDA at full utilization.Equinix press release (Ex-99.1) — August 10, 2020
Post-close · earnings-call commentary

Equinix FY2021 10-K: "On September 1, 2021, we completed the acquisition of GPX India, representing two data centers in Mumbai, India, for a total purchase consideration of approximately INR 12.5 billion, or $170.5 million at the exchange rate in effect on that date."

12 MainOne Cable Company Ltd. · West Africa (Nigeria, Ghana, Cote d'Ivoire) $320M
Announced Dec 2021 Closed Apr 2022 all cash
West African colocationsubsea cable and terrestrial fiber connectivity

MainOne Cable Company Ltd., representing four data centers as well as a subsea cable and terrestrial fiber network across West Africa (Nigeria, Ghana, Cote d'Ivoire). The acquisition marked Equinix's entry into the African market. Enterprise value of approximately $320 million at announcement (all-cash); total purchase consideration of $278 million at close.

Why it was attractive
  • Equinix's entry into Africa - four data centers plus a subsea cable and terrestrial fiber network across West Africa
On April 1, 2022, we completed the acquisition of all outstanding shares of MainOne, which consisted of four data centers as well as a subsea cable and terrestrial fiber network. We acquired MainOne and its assets for a total purchase consideration of $278 million.Equinix FY2024 10-K — business combinations disclosure
Post-close · earnings-call commentary

Equinix FY2024 10-K confirms close on April 1, 2022 for total purchase consideration of $278 million.

13 Entel data centers (Chile & Peru) · Chile (4 data centers) and Peru (1 data center) $705M
Announced Mar 2022 Closed May 2022 all cash
Chilean and Peruvian colocationdata center operations

Data centers acquired from Empresa Nacional De Telecomunicaciones S.A. ("Entel"), a leading Chilean telecommunications provider - four data centers in Chile (closed May 2, 2022, ~$638 million) and one in Peru (closed August 1, 2022, ~$80 million). The deal marked Equinix's expansion into Chile and Peru. Enterprise value of approximately US$705 million at announcement; at close, Entel Chile (four data centers) for approximately $638 million plus Entel Peru (one data center) for approximately $80 million.

Why it was attractive
  • Entry into Chile (highest GDP per capita in South America) and Peru
  • expected immediately accretive to AFFO per share
Equinix to Expand into Chile and Peru with US$705 Million Acquisition of 4 Entel Data Centers ... Equinix, Inc. today announced its planned expansion into Chile and Peru through its intended acquisition of four data centers from Empresa Nacional De Telecomunicaciones S.A. ("Entel") ... for an enterprise value of approximately US$705 million.Equinix press release (Ex-99.1) — March 18, 2022
Post-close · earnings-call commentary

Equinix FY2024 10-K: "On May 2, 2022, we further expanded in Latin America through an acquisition of four data centers in Chile from Entel ... for a total purchase consideration of $638 million ... On August 1, 2022, we completed the acquisition of a data center in Peru from Entel for a total purchase consideration of $80 million."

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