Equinix has announced its planned entry into the Philippines with the acquisition of three data centers from Total Information Management (TIM). Equinix reports that the all-cash transaction represents a multiple of approximately 15x the projected EBITDA at full utilisation and is expected to close in the second half of 2024, subject to customary closing conditions.
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Strategic Significance
"Following the recently announced expansions in Malaysia and Indonesia, this strategic move aims to help businesses expand and capitalise on the digital opportunities in the fast-growing Southeast Asia region," Equinix said on Monday.
Existing customers of TIM, including network and financial services companies, will also gain access to Equinix's global ecosystem of more than 10,000 companies, including more than 2,000 networks and 3,000 cloud and IT service providers.
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Comments from Equinix
Commenting on the acquisition, Equinix said, "This strategic acquisition, combined with our recent expansions in Malaysia and Indonesia, as well as the awarded data center capacity in Singapore, will greatly enhance our footprint in the region."
"This expanded digital infrastructure will also enable our customers to thrive and embrace digital transformation, harnessing the potential of emerging technologies like private AI. This acquisition perfectly aligns with our vision to extend our leadership in the Asia-Pacific region while driving the acceleration of the digital economy," the digital infrastructure company added.
The three carrier-neutral and interconnection-rich data centers include more than 1,000 cabinets of capacity and land for further expansion. As part of Equinix's investment plans in the Asia-Pacific region, the company will expand into new markets including Jakarta, Indonesia (JK1) and Chennai, India (CN1) later this year.
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Equinix's Presence
As of now, Equinix has around 260 data centers across 71 metros and 33 countries. In Asia-Pacific, Equinix currently operates 56 data centers in 14 key metros across Australia, China, Hong Kong, India, Japan, Korea, Malaysia, and Singapore, including the recently opened data centers in Johor (JH1) and Kuala Lumpur (KL1) in Malaysia.
