Subsequent Events

9 Months Ended

Sep. 30, 2019

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On October 4, 2019, the Company entered into an agreement to acquire three data centers in Mexico for $175.0 million in an all-cash transaction. The acquisition is expected to close in the first quarter of 2020, subject to customary closing conditions including regulatory approval. The operating results of the acquisition will be reported in the Americas region following the date

of acquisition. The valuation of assets acquired and liabilities assumed are still being appraised by a third-party and the purchase price allocation is not yet complete.

On October 8, 2019, the Company and GIC, Singapore's sovereign wealth fund, closed their Joint Venture. Upon closing, the Joint Venture acquired certain data center facilities in Europe from the Company, with the opportunity to add additional facilities to the Joint Venture in the future. The Company owns a 20% interest and GIC owns an 80% interest in the Joint Venture. The Company will account for its investments in the Joint Venture using the equity method of accounting.

On October 30, 2019, the Company declared a quarterly cash dividend of $2.46 per share, which is payable on December 11, 2019 to the Company's common stockholders of record as of the close of business on November 20, 2019.