NASDAQ stock Equinix, Inc. (NASDAQ:EQIX) is leaving no stone unturned in its expansion goals. Recently it announced the agreement to purchase ICT-Centre AG data center in Zurich, Switzerland. This is the second acquisition based in Europe in 2017.
The acquisition details
The company hopes to introduce ICT data center services into its already existing ZH4 data center. This allows it to stretch its campus for an amount less than $5 million. The new property acquired is located adjacent to the current International Business Exchange, ZH2 and ZH4 data centers. The acquisition will result to an approximate of 60 cabinets of leased space and around 230 cabinets of colocation space. The facility in Zurich becomes the most interconnected place in the larger Switzerland with over 70 networks to its name.
The market sector
The population at the campus comprises of ZH1, ZH2, ZH4 and ZH5. It reaches out to around 90% of the population in Europe in only 20 milliseconds. Colocation services available in the Zurich and Geneva properties spreads across more than 325 organizations. Equinix commented that they believe that the acquisition will assist it to deliver a platform with more capacity and interconnections. This is especially targeting customers seeking to access cloud connectivity, network or to enhance digital transformation.
Equinix has interest in spreading to other areas as well. It is going beyond just internal expansion projects to external markets through acquisitions. The Verizona data center located in the U.S. and Latin America cost it $3.6 billion. It is expected to end before the end of this year. Equinix are positive that demand for data centers will keep growing. To maintain popularity in the market it is expanding its data centers locally and globally.