Equinix to Extend its Digital Infrastructure Platform to the Philippines with Acquisition of Three Data Centers
REDWOOD CITY, Calif. and MANILA, The Philippines, July 22, 2024 /PRNewswire/ — Equinix, Inc. (Nasdaq: EQIX), the world’s digital infrastructure company®, today announced its planned entry into the Philippines with the acquisition of three data centers from Total Information Management (“TIM”), a leading technology solutions provider. Following the recently announced expansions in Malaysia and Indonesia, this strategic move aims to help businesses expand and capitalize on the digital opportunity of the fast-growing Southeast Asia region. The all-cash transaction represents a multiple of approximately 15x the projected EBITDA at full utilization and is expected to close in 2H 2024, subject to customary closing conditions.