Equinix Inc 8-K, filed Sep 2, 2021
Equinix Inc (EQIX)
About this 8-K
Equinix Inc filed this 8-K on September 2, 2021, reporting on events of September 1, 2021.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
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Common stock, |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On September 1, 2021, Equinix, Inc. (“Equinix”) issued a press release announcing that it had completed its acquisition of the India operations of GPX Global Systems, Inc. A copy of Equinix’s press release is attached hereto as Exhibit 99.1.
The information furnished in Item 7.01 of this Form 8-K and in Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits
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Exhibits. |
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99.1 |
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104 |
Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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EQUINIX, INC. |
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DATE: September 2, 2021 |
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/s/ KEITH D. TAYLOR |
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Keith D. Taylor |
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Chief Financial Officer |
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Exhibit 99.1
Equinix Completes Acquisition of Two Data Centers in India
Manoj Paul Named India Managing Director for Equinix
REDWOOD CITY, Calif., Sept. 1, 2021 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company™, announced today that it has extended Platform Equinix into the strategic Indian market, following the completion of the acquisition of the India operations of GPX Global Systems, Inc. ("GPX India"). The US$161 million all-cash transaction includes a fiber-connected campus in Mumbai with two data centers.
Equinix's expansion into India will unlock opportunities for Indian businesses expanding internationally and for multinational corporations pursuing growth and innovation in the Indian market. With the upcoming 5G rollout in the country, companies can get ahead in the digital era with Equinix and benefit from the ability to accelerate their evolution from traditional to digital businesses by rapidly digitizing and scaling their infrastructure, easily adopting hybrid multicloud architectures and interconnecting with more than 350 international brands and local companies in India.
Equinix India will be led by Managing Director Manoj Paul, a veteran with more than two decades of experience who will leverage his deep insights into the local data center industry to support the digital transformation journeys of businesses in India.
Highlights/Key Facts:
- From the acquisition, the two new International Business Exchange™
(IBX®) data centers in Mumbai, dubbed Equinix MB1 and
MB2, form a network-dense data center campus with more than 350 international
brands and local companies, including the world's leading cloud service
providers (CSPs), global networks, content delivery network (CDN) providers,
all local carriers, 170 internet service providers (ISPs) and five internet
exchanges.
- Home to the digital infrastructure of numerous global organizations,
the two data centers in Mumbai provide an initial 1,350 cabinets, with
an additional 500 cabinets to buildout. The facilities will add more than
90,000 square feet of colocation space to Platform Equinix®
when fully built.
- Equinix's Mumbai campus offers a cloud-dense environment and direct
access to major cloud services, including AWS Direct Connect, Google Cloud
Dedicated Interconnect and Oracle Cloud Infrastructure FastConnect. It
also hosts key internet exchanges such as AMS-IX India, Extreme IX, Mumbai
IX-DECIX, National Internet Exchange of India (NIXI) and Bharat IX, allowing
ISPs, carriers, CDNs and large enterprises to exchange internet traffic.
- Equinix plans to introduce a full range of interconnection and digital
infrastructure services, including Equinix Connect, Equinix Internet Exchange®,
Metro Connect, Equinix FabricTM and Network Edge, in the new
data centers upon the completion of the business integration. This will
enable customers in India to connect in real time, directly and privately,
to more than 10,000 companies, including more than 1,800 networks and
3,000 cloud and IT service providers, through Platform Equinix for increased
performance, security and scale.
- According to Frost & Sullivan, India is anticipated to become a
US$2 trillion digital economy by 2030, growing at a 21% compound annual
growth rate (CAGR). It also forecasts that 40% to 50% of Indian businesses
will be taking a containerized hybrid multicloud approach for deploying
applications by 2025.1 Digitalization and cloud
adoption in India will be further accelerated by the upcoming rollout
of 5G and ICT policy reforms of the government. The expansion of Platform
Equinix will enable Indian businesses, as well as multinationals with
a presence in India, to harness a trusted platform to bring together and
interconnect the foundational infrastructure they need to power their
success.
- Current customers at GPX India will now be able to access Platform Equinix
capabilities worldwide. For example, OPPO, a leading global smart device
brand, has deployed in MB2 and is leveraging Zenlayer's IP transit
and IP peering services to support its critical IT operations in India,
including the OPPO App Market Store, local official website, and end-user
data. Today's announcement will further support OPPO's omnichannel
strategy in India and its global expansion ambitions as it can easily
replicate its digital infrastructure with Equinix in India to anywhere
via Equinix's global platform.
- Over the years, Equinix has supported India-based partners, including
HCL Technologies, Infosys, Tata Consultancy Services and Wipro, in deploying
their customers' digital infrastructure at Equinix IBX data centers
outside of India.
- Appointed as Managing Director of Equinix India, Manoj Paul has over
25 years of extensive experience in IT and telecom infrastructure. Prior
to Equinix, he led the India operation of GPX India, helping it to emerge
as India's most prominent carrier-neutral and cloud-dense data center.
Before joining GPX India, Paul spent 11 years with Bharti Airtel Ltd,
where his last role was Chief Operating Officer (Enterprises) for the
Western region.
- Globally, Platform Equinix comprises more than 230 data centers across
65 metros and 27 countries, providing data center and interconnection
services for more than 10,000 of the world's leading businesses, including
more than 50% of Fortune 500 companies. Today, Equinix operates 49 IBX
data centers in Asia-Pacific across 13 metros in Australia, China, Hong
Kong, India, Japan, Korea and Singapore.
- In connection with this transaction, J.P. Morgan, Cyril Amarchand Mangaldas and Deloitte Touche Tohmatsu India LLP were advisors to Equinix, and KPMG and Kanga & Co were advisors to GPX.
Quotes
- Joe Zhu, Founder and CEO of Zenlayer
"With over 185 points of presence around the world, Zenlayer continues to provide businesses with low latency and worldwide on-demand edge cloud services. Our global edge cloud platform, when combined with Equinix's global footprint and cloud ecosystems, will further optimize our customers' hybrid multicloud infrastructure and enhance the digital experiences for users." - Nishchal Khorana, Vice President & Global Program Leader, ICT, Frost & Sullivan
"Digital adoption in India has become a strategic priority for the government as well as enterprises. Indian government's initiatives for building a self-reliant India are expected to further catalyze digital adoption. Digital will play a pivotal role as enterprises aim to transform their business models and strengthen competitiveness. With Equinix's proven global experience, it has the potential to offer immense value for enterprises in India as they accelerate their digital journey." - Jeremy Deutsch, President, Equinix Asia-Pacific
"India presents enormous opportunities for digital leaders in Asia-Pacific. Bringing Platform Equinix to India not only solidifies Equinix's position as the leading digital infrastructure provider in Asia-Pacific, but also provides a new option to local enterprises and multinationals operating in India to interconnect and manage their digital infrastructure in Mumbai. We believe our global expertise and unique interconnection ecosystem will continue to empower businesses in India." - Manoj Paul, Managing Director, Equinix India
"Extending Platform Equinix to India with the addition of two world-class, highly interconnected data centers provides a platform for additional expansion across the country, and I am excited about the opportunities ahead for Equinix. With the global footprint of Equinix and the industry's largest ecosystem, we are well-positioned to be a critical part as well as a driving force of the digital revolution in India, helping businesses to leap forward domestically and globally."
Additional Resources
- Platform Equinix® Expands to India [blog]
- Equinix MB1 Data Sheet [website]
- Equinix MB2 Data Sheet [website]
- Equinix Fabric [website]
- Platform Equinix [website]
About Equinix
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage. With Equinix, they can scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value.
Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX data centers and developing, deploying and delivering Equinix products and solutions, including in India, a new market for Equinix; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix, including GPX India; a failure to receive significant revenues from customers in recently built out or acquired data centers; a 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.
1Frost & Sullivan Transformative Mega Trends Reshaping the Indian ICT Landscape Helping Businesses Build Their Long-term Technology Strategy, November 2020
CONTACT: Equinix Media Contact (Global) David Fonkalsrud, Equinix, +1 650-598-6240, dfonkalsrud@equinix.com or Equinix Media Contact (Asia-Pacific) Annie Ho, Equinix, +852 2970-7761. annho@ap.equinix.com or Equinix Investor Relations Katrina Rymill , +1 650-598-6583, krymill@equinix.com or Chip Newcom, +1 650-598-6262, cnewcom@equinix.com