Equinix to Expand Into Spain and Portugal Through Acquisition of Itconic

CEquinix, Inc., the global interconnection and data center company, announced that it has entered into an agreement with The Carlyle Group for the purchase of Itconic, a leading data center, connectivity and cloud infrastructure solutions provider in Spain and Portugal, and CloudMas, an Itconic subsidiary that is focused on supporting enterprise adoption and use of cloud services. Itconic generated approximately €55.5M or approximately $66.8M U.S. dollars of revenues for the period Q2 2017 annualized. Equinix will purchase the companies in an all-cash transaction totaling €215M or approximately $259M U.S. dollars. The agreement was signed on September 8, 2017, and the acquisition is expected to close in Q4 2017, subject to customary closing conditions including regulatory approval.

Itconic is specialized in data centers and was acquired by Carlyle in May 2015. Industry sources believe that the signing pag 22 million euros for technological Schneider Electric, even after it has invested heavily to improve their operations and attract new customers like Google and Microsoft.

Uría Menéndez advised Equinix, through Pablo González-Espejo (partner, M&A-Private Equity, Madrid); Francisco Brito (partner, M&A-Private Equity, Lisbon) Sara García Vázquez (counsel, Madrid); David Martínez Saldaña (associate, employment, Madrid); Livia Solans (associate, M&A-Private Equity, Madrid).