UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
CURRENT REPORT
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Common stock, |
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01Regulation FD Disclosure.
On August 10, 2020, Equinix issued a press release announcing that it had signed a definitive agreement (the “Transaction Agreement) with GPX Global Systems, Inc. (“GPX”) pursuant to which Equinix agreed, subject to the terms and conditions set forth in the Transaction Agreement, to acquire the India operations of GPX. A copy of Equinix’s press release is attached hereto as Exhibit 99.1.
The information furnished in Item 7.01 of this Form 8-K and in Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such a filing.
Item 9.01. Financial Statements and Exhibits
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Exhibits. |
99.1 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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EQUINIX, INC. |
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DATE: August 11, 2020 |
By: |
/s/ KEITH D. TAYLOR |
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Keith D. Taylor |
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Chief Financial Officer |
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Exhibit 99.1
Equinix Expands to India with Acquisition of GPX India
REDWOOD CITY, Calif., Aug. 10, 2020 /PRNewswire/ -- Equinix, Inc. (Nasdaq: EQIX), the global interconnection and data center company, today announced its expansion into India through the acquisition of the India operations of GPX Global Systems, Inc. ("GPX India"). The all-cash transaction value of US$161 million represents a multiple of approximately 15x the projected EBITDA at full utilization. The acquisition is expected to close in Q1 2021, subject to customary closing conditions including regulatory approval.
The acquisition will extend Platform Equinix® to India with the addition of two world-class, highly interconnected data centers, providing a platform for additional expansion across the country. Equinix customers will have access to a network-dense data center campus with more than 200 international brands and local companies, including the world's leading cloud service providers (CSPs), leading networks, content delivery network (CDN) providers, all local carriers, 130 internet service providers (ISPs) and four internet exchanges. Both data centers are strategically located in Mumbai, home to the critical IT infrastructure of numerous global organizations and with international connectivity serviced by subsea cables at landing sites located nearby.
According to McKinsey, core digital sectors in India, such as IT and digital communication services, are projected to double in size by 2025 to contribute US$355-435 billion to GDP.1 To further address the proliferation of digitization of the country, this acquisition will allow Equinix to support its existing network, content, cloud and enterprise customers looking to expand in this rapidly growing market. The expansion will also help local companies accelerate their digital transformation journeys by deploying their infrastructures, applications and services closer to the edge through the globally interconnected platform of more than 210 International Business ExchangeTM (IBX®) data centers.
Highlights/Key Facts
Quote
Additional Resources
About Equinix
Equinix, Inc. (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centres. On this global platform for digital business, companies come together across more than 55 markets on five continents to reach everywhere, interconnect everyone and integrate everything they need to create their digital futures. Equinix.com.
Forward-Looking Statements
This press release contains forward-looking statements which are based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual results to differ materially from expectations discussed in such forward-looking statements, including statements related to the acquisition of data centers from GPX, the expected benefits from the acquisition and the expected timing for closing the acquisition. Factors that might cause such differences include, but are not limited to, risks to our business and operating results related to the COVID-19 pandemic, unanticipated costs or difficulties relating to the integration of data centers or companies we have acquired or will acquire into Equinix, including the data centers we may acquire from GPX; the challenges of acquiring, operating and constructing IBX data centers and developing,
deploying and delivering Equinix services, including in the GPX data centers; a failure to receive significant revenue from customers in recently built out or acquired data centers, including those acquired from GPX; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
1 Digital India: Technology to transform a connected
nation
2 NASSCOM Cloud: Next Wave of Growth in India 2019
3 Digital India: Technology to transform a connected nation
CONTACT: Equinix Media Contact (Global), David Fonkalsrud, Equinix, +1 650-598-6240, dfonkalsrud@equinix.com, Equinix Media Contact (Asia-Pacific), Annie Ho, Equinix, +852 2970-7761, annho@ap.equinix.com, Equinix Investor Relations, Katrina Rymill, +1 650-598-6583, krymill@equinix.com, Chip Newcom, +1 650-598-6262, cnewcom@equinix.com
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Document And Entity Information |
Aug. 10, 2020 |
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Cover [Abstract] | |
Entity Registrant Name | EQUINIX, INC. |
Document Type | 8-K |
Amendment Flag | false |
Entity Central Index Key | 0001101239 |
Document Period End Date | Aug. 10, 2020 |
Entity Emerging Growth Company | false |
Entity File Number | 000-31293 |
Entity Incorporation, State or Country Code | DE |
Entity Tax Identification Number | 77-0487526 |
Entity Address, Address Line One | One Lagoon Drive |
Entity Address, City or Town | Redwood City |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 94065 |
City Area Code | 650 |
Local Phone Number | 598-6000 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Security 12b Title | Common stock,par value $0.001 per share |
Trading Symbol | EQIX |
Security Exchange Name | NASDAQ |
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