Stock News in Focus: Equinix (NASDAQ:EQIX)

On Friday Equinix (NASDAQ:EQIX) stock traded volume of 307210 shares during its last trading session as compared to its average volume of 417140 shares over the recent month. EQIX ended its day with the above stream along the move of 1.02% and closed at the price of $581.65 before opening at $577.63. It has total market capitalization is $49335089750. 52 week range of the stock remained $ 335.29 – 609.97 while its day lowest price was $575.93 and its hit its day highest price at $582.43.

On Oct. 4, 2019, Equinix (NASDAQ:EQIX) the global interconnection and data center company, revealed it has entered into an agreement with Axtel S.A.B. de C.V. (BMV: AXTELCPO) to acquire three data centers that serve the Mexico City and Monterrey metro areas of Mexico for US$175 million in an all-cash transaction. The three facilities generated approximately $21 million of revenues in the 12 months ending December 31, 2018, with an EBITDA margin profile accretive to the Equinix business. The acquisition is expected to close in Q1 2020, subject to customary closing conditions including regulatory approval.

The addition of these three facilities in two strategic technology metros in Mexico is part of Equinix’s strategy of extending its global leadership into attractive large-growth markets. This acquisition, when combined with the previous acquisitions of key traffic hubs in Dallas (Infomart) and Miami (NAP of the Americas), will further strengthen Equinix’s global platform by increasing interconnection between North, Central and South America.

The three data centers will add approximately 115,000 square feet of colocation space to the Equinix International Business Exchange™ (IBX®) data center portfolio. Given the power capacity of these three sites, this transaction will make Equinix one of the largest network-neutral data center operators in Mexico. Including current expansion projects, Equinix has invested more than $500 million in its Latin American operations including Brazil, Colombia and now Mexico.

Leave a Reply

Your email address will not be published. Required fields are marked *