Jan
14
2020
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Equinix is acquiring bare metal cloud provider Packet

Equinix announced today that it is acquiring bare metal cloud provider Packet, the New York City startup that had raised over $36 million on a $100 million valuation, according to PitchBook data.

Equinix has a set of data centers and co-location facilities around the world. Companies that may want to have more control over their hardware could use their services, including space, power and cooling systems, instead of running their own data centers.

Equinix is getting a unique cloud infrastructure vendor in Packet, one that can provide more customized kinds of hardware configurations than you can get from the mainstream infrastructure vendors like AWS and Azure. Company COO George Karidis described what separated his company from the pack in a September, 2018 TechCrunch article:

“We offer the most diverse hardware options,” he said. That means they could get servers equipped with Intel, ARM, AMD or with specific nVidia GPUs in whatever configurations they want. By contrast public cloud providers tend to offer a more off-the-shelf approach. It’s cheap and abundant, but you have to take what they offer, and that doesn’t always work for every customer.

In a blog post announcing the deal, company co-founder and CEO Zachary Smith had a message for his customers, who may be worried about the change in ownership. “When the transaction closes later this quarter, Packet will continue operating as before: same team, same platform, same vision,” he wrote.

He also offered the standard value story for a deal like this, saying the company could scale much faster under Equinix than it could on its own, with access to its new company’s massive resources, including 200+ data centers in 55 markets and 1,800 networks.

Sara Baack, chief product officer at Equinix, says bringing the two companies together will provide a diverse set of bare metal options for customers moving forward. “Our combined strengths will further empower companies to be everywhere they need to be, to interconnect everyone and integrate everything that matters to their business,” she said in a statement.

While the companies did not share the purchase price, they did hint that they would have more details on the transaction after it closes, which is expected in the first quarter this year.

Jul
01
2019
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Equinix and Singapore’s GIC will launch a $1 billion joint venture to build hyperscale data centers in Europe

Equinix, one of the world’s largest data center companies, announced that it will form a $1 billion joint venture with GIC, Singapore’s sovereign wealth fund. The partnership will focus on building xScale data centers in Europe. Instead of targeting the wholesale market, Equinix is developing xScale data centers to handle the demands of the biggest cloud service providers in the world. Equinix’s clients have already included Alibaba Cloud, Amazon Web Services, Microsoft Azure, Oracle Cloud Infrastructure, Google Cloud and other hyperscale cloud providers.

Under the agreement, expected to be finalized in the third quarter, GIC will own an 80% stake in the joint venture, with Equinix owning the remaining 20%. Equinix will also sell its London LD10 and Paris PA8 International Business Exchange (IBX) data centers to the joint venture for new xScale centers. xScale centers will also be built in Amsterdam, Frankfurt and London, bringing the total to six centers that will provide a combined capacity of 155 megawatts once completed.

Equinix says global deployments from hyperscale cloud providers currently exceed about $500 million in annual revenue. The new xScale data centers will be located on or near Equinix’s IBX campuses, to enable providers to handle more customer access points and rapidly-scaling workloads. Equinix currently has more than 200 IBX campuses, covering more than 50 metro areas around the world. xScale data centers will also offer interconnection and edge services to increase connection speeds for cloud service customers and be engineered specifically to meet the needs of hyperscale companies.

In a press statement, Charles Meyers, president and CEO of Equinix, said, “The JV structure will enable us to extend our cloud leadership while providing significant value to a critical set of hyperscale customers. We look forward to launching similar JVs in other operating regions and believe that these efforts will continue to further differentiate Equinix as the trusted center of a cloud-first world.”

May
01
2017
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Equinix completes $3.6 billion deal to buy 29 data centers from Verizon

Data center Equinix, an international data center company based in Redwood City, California, announced today that it has completed the purchase of 29 data centers from Verizon for $3.6 billion. The acquisition greatly expands Equinix’s footprint, including giving it access to Latin America through a data center in Bogota, Colombia, along with a new presence in Houston, Texas and Culpeper, Virginia. Read More

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