Acquisition Accelerates Equinix Strategy to Enable Enterprises to Seamlessly Deploy Hybrid Multicloud Infrastructures
REDWOOD CITY, Calif., March 3, 2020 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced it has completed the acquisition of Packet, a leading bare metal automation platform. The transaction, announced on January 14, 2020, accelerates Equinix's strategy to help enterprises seamlessly deploy hybrid multicloud architectures.
As a part of the $335 million transaction, the combined company will operate the existing Packet business as "Packet, an Equinix company," while developing new solutions for enterprise customers that combine Packet's leading bare metal automation technology with the rich ecosystems, global reach and interconnection fabric of Platform Equinix®. Zachary Smith, former CEO of Packet, will serve as managing director of the bare metal business.
By leveraging Packet's innovative and developer-oriented bare metal service offering to accelerate its organic bare metal solution development, Equinix aims to create advanced solutions for enterprises to rapidly deploy digital infrastructure at global scale with differentiated performance and robust integration to the public cloud. Businesses will be able to deploy advanced IT infrastructures via the physical or virtual consumption model of their choice, enabling them to more easily reach everywhere, interconnect everyone and integrate everything that matters to their business.
Equinix, Inc. (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. On this global platform for digital business, companies come together across more than 50 markets on five continents to reach everywhere, interconnect everyone and integrate everything they need to create their digital futures. www.equinix.com.
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual results to differ materially from expectations discussed in such forward-looking statements, including statements related to the acquisition of Packet and the expected benefits from the acquisition. When used in this document, the words "anticipates," "can," "will," "look forward to," "expected," and similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Factors that might cause such differences include, but are not limited to, the possibility that the anticipated benefits from the acquisition cannot be fully realized or may take longer to realize than expected; unanticipated costs or difficulties relating to the integration of data centers or companies we have acquired or will acquire into Equinix, including Packet; the challenges of acquiring, operating and constructing IBX centers and developing, deploying and delivering Equinix products and solutions; a failure to receive significant revenue from customers in recently built out or acquired data centers or companies, including Packet; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; risks related to our taxation as a REIT; and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
SOURCE Equinix, Inc.