Equinix acquires GPX India data centres for $161m

Photo by Josh Appel on Unsplash

Global interconnection and data centre company Equinix Inc. on Tuesday announced the acquisition of GPX Global Systems Inc.’s Indian arm, which has two data centres in Mumbai, in an all-cash deal valued at $161 million.

The transaction highlights the growing interest in the data centre business in India, the second-largest internet market in the world by number of users.

The data centre market in India has grown exponentially since the government’s 2018 directive on data localization, leading to major investments by the likes of Amazon Web Services, Google Cloud and Microsoft Azure, besides expansion by Indian firms such as the Hiranandani Group and Adani Group.

Last month, American investment firm Carlyle had announced plans to buy a 25% stake in the data centre arm of Indian telecom major Bharti Airtel for $235 million, while Hiranandani Group launched a 1,000 crore data centre facility in Mumbai. Further, Mukesh Ambani-led Reliance Industries Ltd has partnered with Microsoft Azure to set up data centres across India.

The facilities will add more than 90,000 sq. ft of co-location space to Platform Equinix when fully built, it added. The acquisition is expected to close in Q1 2021, subject to customary closing conditions such as regulatory approval.

Globally, Platform Equinix comprises over 210 data centres across 56 metros and 26 countries, providing data interconnection services for over 9,500 businesses.

Charles Meyers, president and chief executive, Equinix said: “The acquisition of GPX’s business in India means we are able to make a giant leap in terms of growing our ecosystem in India, and gives us a solid foundation for rapid growth and expansion.”

This article was first published on livemint.com.

 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.