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Equinix Continues Global Expansion Program with Construction of New Data Centers in London and Singapore
2008-10-24
New Centers in High Demand Markets to Augment Existing Locations Nearing
Capacity, Continuing Equinix?s Program of Measured Expansion to Meet Demand
Foster City, CA ? October 22, 2008 ? Equinix, Inc. (Nasdaq: EQIX), the
leading global provider of network-neutral data centers and Internet exchange
services, today announced plans to build a new 300,000 square foot data center
in London and a new 110,000 square foot data center in Singapore. The expansions
come at a time when demand in the London and Singapore markets continues to
outpace supply, providing a favorable pricing environment, and as businesses are
increasingly challenged to meet the growing power requirements of their IT
operations.
The site selected for the London expansion (LD5), located in the suburb of
Slough, will augment Equinix?s four other centers in the London market. It has
the capacity for multiple phases, enabling Equinix to fully build out the site
over time as demand warrants. Capital expenditures for the initial phase of the
build out are expected to range between $80 million and $90 million, of which
$60 million will be spent by the end of 2009.
The new Singapore center (SG2), located in the western region of Singapore, will
also be built out in phases, with capital expenditures for the initial phase
expected to be approximately $45 million, which will be spent by the end of
2009. It will provide additional capacity to Equinix?s existing SG1 center
located in the southern region of Singapore.
?Despite the challenges of the current global economy, Tier 1 Research is
forecasting continued strong demand in the data center and colocation services
market globally, given the supply-demand imbalance that has existed for the last
several years in most markets, including London and Singapore,? said Dan Golding,
vice president and research director at Tier 1 Research. ?In fact, our belief is
that downward pressure on the economy favors colocation providers, as companies
forego the significant capital expenditures needed to develop their own internal
data centers.?
The first phase of the new LD5 center, located in close proximity to the
company?s existing LD4 Internet Business Exchange (IBX®) data center, is
expected to open in Q1 2010. It will provide much needed capacity to the
constrained London market, the largest market for Equinix in Europe, enabling
the company to keep pace with the growing demand from enterprise and financial
services companies in the region. As Equinix?s interconnection business
continues to grow, including the Equinix Financial eXchange service and the
company?s partnership with the London Internet Exchange (LINX), the LD5 center
will also enable Equinix to meet the long-term expansion needs of its London
area customers with a new center that is in close proximity to its existing LD4
center.
The initial phase of the Singapore center is expected to open in Q3 2009. It
will provide additional supply to the Singapore market that currently has no
significant new data center builds underway and that is expected to remain
capacity constrained through 2010. In addition to providing the much needed
colocation space, the new center will enable Equinix to continue the strong
growth of the company?s peering business, as the SG2 center will be located
close to one of the largest submarine cable landing points in the region.
Both new centers will feature physical infrastructures consistent with Equinix?s
industry-leading standards for security, environmental control and power
availability. In addition, a portion of the capital expenditures for the first
phase of the LD5 center will be used to upgrade the local power infrastructure
by approximately 40 megawatts in order to accommodate customers' needs for the
new generation of high-power density equipment including blade servers.
?These two new fully funded builds, in addition to our recently announced build
in Paris, represent Equinix?s longstanding strategy of measured expansion in
strategic markets where demand is strong,? said Steve Smith, president and CEO
of Equinix. ?In London and Singapore, we continue to experience strong growth
and anticipate that we will soon reach capacity in these existing centers. These
new centers will provide the company with a long-term solution to meet the
demand in these markets, as we pursue our flexible expansion model that enables
us to build out a property in multiple phases over time.?
The first phase of the LD5 center will accommodate approximately 1,400 cabinet
equivalents, and, at full build out, the center will have a total capacity of
approximately 5,500 to 6,000 cabinet equivalents. The first phase of the SG2
center will accommodate approximately 700 cabinets, and, at full build out, the
center will have a total capacity of approximately 1,700 cabinets.
As previously announced, Equinix will provide an update of its outlook for 2008
and 2009 on its Third Quarter 2008 results call scheduled for later today.
About Equinix
Equinix is the leading global provider of network-neutral data center and
interconnection services, offering premium colocation, traffic exchange and
outsourced IT infrastructure solutions. Global enterprises, content companies,
systems integrators and network service providers look to Equinix Internet
Business Exchange (IBX®) centers for world-class reliability and network
diversity. Equinix IBX centers serve as critical, core hubs for IP networks and
Internet operations worldwide. With 41 IBX centers located in 18 strategic
markets across North America, Europe and Asia-Pacific, Equinix enables customers
to reliably operate their mission-critical infrastructure on a global basis.
Important information about Equinix is routinely posted on the investor
relations page of its website located at
www.equinix.com. We encourage you to check Equinix?s website regularly for
the most up-to-date information.
Press Contacts
Equinix Investor Relations Contact
Jason Starr
Equinix, Inc
+1 (650) 513-7402
North America
David Fonkalsrud
K/F Communications, Inc
(415) 255-6506
Click here for more information
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