Equinix To Acquire Portfolio Of 24 Data Center Sites From Verizon For $3.6 Billion In Cash

Equinix Inc. said Tuesday it has agreed to acquire a portfolio of 24 data center sites from Verizon Communications Inc. in an all-cash deal valued at $3.6 billion. The sites consist of 29 data center buildings across 15 metro areas. The deal will increase interconnection in the U.S. and Latin America, allow the company expand in new markets in Bogota, Culpeper and Houston, and move the company into enterprise and strategic sectors, including government and energy. Equinix is an operator of data centers in the America, Europe and the Asia-Pacific region. The deal is expected to close by mid-2017. Equinix shares were slightly higher premarket, and are up 10% in the year to date, while the S&P 500 has gained 7.9%.