Equinix to buy Australia’s Metronode data centre from OTPP for $791m

Metronode's Adelaide facility. Source: Metronode website

U.S. data centre group Equinix Inc on Monday said it was buying Australian data centre company Metronode from the Ontario Teachers’ Pension Plan in an all-cash deal worth A$1.035 billion ($791.15 million).

Metronode operates internet and communications infrastructure facilities throughout Australia for some of the country’s largest corporations, government agencies, telecommunications and IT service providers.

Metronode generated approximately A$60 million of revenue in the 12 months ending Sept. 30, 2017, Equinix said in a statement.

The deal was expected to close in the first half of 2018, subject to some conditions including regulatory approval.