EQUINIX INC acquires TelecityGroup plc

EQUINIX INC acquired TelecityGroup plc for Recommended cash-and-share offer valuing each TelecityGroup share at approximately 1,145.0 pence and TelecityGroup's entire issued and to-be-issued share capital at approximately GBP 2,351.9 million (~$3.8 billion); 572.5 pence in cash plus 0.0327 new Equinix shares per TelecityGroup share, a transaction completed in January 2016, structured as combination. The deal was a merger (UK scheme of arrangement).

TelecityGroup plc operates in Data centers / colocation - Europe, is based in Europe (United Kingdom-headquartered; data centers across major EU metros). TelecityGroup plc, a public company organized under the laws of England and Wales, provided data center solutions across Europe. Equinix acquired it via a court-sanctioned scheme of arrangement under Rule 2.7 of the UK City Code on Takeovers and Mergers.

Equinix pursued TelecityGroup to substantially expand its European data center footprint and interconnection density; the transaction was conditional on competition authority clearances, which required Equinix to divest certain overlapping European IBX data centers.

Largest European pure-play colocation operator at the time, adding significant interconnection density and metro coverage to Platform Equinix. Expanded European footprint and interconnection; Equinix agreed to divest 8 overlapping IBX data centers in the UK, Netherlands and Germany in July 2016 to satisfy competition clearances. Equinix EMEA region Equinix FY2016 10-K: "The Company completed the TelecityGroup acquisition on January 15, 2016 ... TelecityGroup's operating results for the period January 15, 2016 through December 31, 2016 are included in the consolidated statement of operations for the year ended December 31, 2016."