Equinix has acquired the Zenium data center business in Istanbul from the existing shareholders for $93 million. The data center currently generates approximately $2.5 million of annualized revenues.
The Zenium data center will be renamed Equinix IS2.
The purchase of the Zenium business includes three buildings and land. The IS2 data center building is partially fitted out; the two other buildings are shell and core and prepared for data center fit out.
IS2 provides Equinix with 1,500 square meters of colocation space today with the ability to increase this to 12,000 square meters and up to 22MW of critical customer load at full build.
There are 10 networks, including Turk Telecom, present at the new IS2 data center, providing network to many multinationals, hyperscalers and IT vendors who use Istanbul as a regional headquarters or a gateway to markets in Asia and the Middle East.
Europe is expected to grow 44 percent per annum to 1451 Tbps of capacity by 2020. Growth in Europe will be driven by a number of factors, including data sovereignty and the need for European businesses to exchange information with other businesses in-region.
Equinix currently operates more than 180 IBX data centers in 44 markets.
“The dynamic evolution of digital technology is disrupting how business is done across all industries, forcing companies to invent new, information-centric business models. These business models rely on interconnection and distributed IT architecture,” said Eric Schwartz, president, EMEA, Equinix.