Equinix To Buy Metronode In US$792 Mln Deal

(RTTNews) - Equinix Inc. (EQIX) said that it has entered into an agreement with Ontario Teachers' Pension Plan to acquire all of the equity interests in the Metronode group of companies, an Australian data center business, in an all-cash transaction for A$1.035 billion, or about US$792 million.

Metronode is a data center provider operating facilities throughout Australia, housing mission-critical internet and communications infrastructure for some of Australia's largest corporations, government agencies, telecommunications and IT service providers.

Metronode generated about A$60 million, or approximately US$46 million, of revenues in the 12 months ending September 30, 2017, with a margin profile accretive to the Equinix Asia-Pacific business.

The transaction is expected to close in the first half of 2018, subject to some closing conditions including regulatory approval.