Data center company Equinix is set to acquire the Infomart Dallas from ASB Real Estate Investments, in an $800 million debt and cash deal. The cash consideration will be $31 million.
The Infomart has four of eight Equinix Dallas International Business Exchange (IBX) data centers supporting approximately 3,500 built out cabinets.
The strategy of Equinix will be to increase the number of its owned assets by four, increasing recurring revenue from owned assets to more than 45 percent.
Nearly 50 Infomart employees and contractors will join Equinix as part of the data center deal, which is expected to close by mid-2018.
The 1.6 million gross-square-foot Infomart includes diverse fiber entry points, and provides expansion opportunities to Equinix through the existing underdeveloped capacity with approximately 11MW of power, as well as the potential capacity of approximately 40MW of power on land.
It currently has approximately 45 tenants, including networks, colocation providers, office tenants and Equinix. Equinix is the largest tenant accounting for approximately 40 percent of the lease revenues from the facilities.
The Infomart building generated approximately $50 million of revenues in 2017 including approximately $20 million from rent and maintenance recoveries from Equinix.
ECX Fabric offers access to more than 1,000 of the world’s largest enterprises, cloud service providers including Alibaba Cloud, Amazon Web Services, Google Cloud Platform, IBM Cloud, Microsoft Azure and Oracle Cloud and SaaS providers including Salesforce, SAP and ServiceNow, among others.
Equinix said its revenues reached $4.368 million (+21 percent) including $359 million from the acquisition of 29 Verizon data centers in 2017.
