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Datacentre provider snapped up by US group

Article Date:  Jun 29 2007 Nick Britton

IXEurope, which operates 14 datacentres in four European countries, has been bought by US-based datacentre group Equinix. The acquirer paid £241 million in cash for the AIM-quoted company.

The management team of IXEurope, including chief executive Guy Willner and chief operating officer Christophe de Buchet, will continue to lead the business.

Willner comments: ‘The combination of IXEurope’s European reach and operational expertise with Equinix’s existing global operations will further extend Equinix's market-leading position, and allow it to further leverage the tremendous growth opportunities that exist in the colocation market worldwide.’

The acquired business is the largest network-neutral datacentre provider in Europe, with operations in the UK, Germany, France and Switzerland. Since it was founded in 1999 its revenues have grown more than 30 per cent each year. For the year ending December 2006, it reported turnover of £37.3 million and pre-tax profits of £4.9 million.

The company floated on AIM in April 2006 at 22p per share. Equinix’s offer values it at 125p per share.

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