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The boards of Equinix UK and IXEurope have reached agreement on terms for the acquisition of all of the outstanding shares of IXEurope
July 19, 2007
LONDON and FOSTER CITY, Calif. -- Equinix, Inc. (Nasdaq: EQIX), the leading provider of network-neutral data centers and Internet exchange services, and IXEurope Plc (“IXEurope”, AIM: IXE), a provider of colocation services in Europe, announced today that the boards of its subsidiary, Equinix UK Limited (Equinix UK), and IXEurope have reached agreement on improved terms for the acquisition of all of the outstanding shares of IXEurope for 140 pence per share. In exchange, Equinix UK has now received hard irrevocable undertakings from the IXEurope directors and from shareholders who together hold approximately 67 percent of the existing issued ordinary share capital of IXEurope to vote in favor of the resolutions to approve the acquisition.
“The announcement of our intention to acquire IXEurope three weeks ago created additional interest in the company and an unsolicited approach from another company,” said Steve Smith, CEO of Equinix. “The acquisition of IXEurope by Equinix will solidify Equinix’s position as the world’s market leading colocation provider with high-quality data centers across the United States, Asia-Pacific and Europe and is strategic to our growth. This announcement today secures our acquisition plan at a fair and equitable price.”
“We believe that Equinix’s offer is a good deal for IXEurope shareholders,” said Guy Willner, CEO of IXEurope. “The directors of IXEurope have unanimously agreed to recommend that IXEurope shareholders vote in favor of it.”
Equinix Inc. (Nasdaq: EQIX)
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