$103 million investment for Phase 1 supports customer growth initiatives
FOSTER CITY, CA — November 19, 2010 — Equinix, Inc. (NASDAQ:EQIX, news, filings), a provider of global data center services, today announced the opening of its eighth International Business Exchange™ (IBX®) data center in Silicon Valley, located in San Jose. The new data center extends Platform Equinix to a total of 91data centers across 35 strategic markets worldwide, and supports the growth of Equinix’s customers who are connecting to their digital supply chain partners in Silicon Valley.
“With the opening of this facility, Equinix helps Silicon Valley further solidify its position as the center of innovation in technology,” said Chuck Reed, Mayor of San Jose. “For the past 10 years, Equinix has been a valued member of our community and has been a driving force in the technological advancements that have come from the region.”
This new IBX data center is another example of Equinix investing in its customers’ growth, and will offer 165,000 square feet of space and 2,600 cabinet equivalents when all phases are open. Today’s $103 million Phase 1 facility opening adds 125,000 sq. feet and 1,098 cabinet equivalents to Equinix’s global platform of more than six million square feet of data center space. Connecting this new data center to the existing Silicon Valley campus will enable Equinix to strengthen its peering, cross connect and traffic exchange services, and help its customers extend their market reach. The project is expected to cost approximately $148 million when all phases are complete.
The new IBX opening also marks the 10th anniversary of Equinix’s first data center in Silicon Valley which opened in 2000. Equinix has enabled many of the companies behind the advancement of the Internet over the last decade including Autodesk, Citrix Online, LinkedIn, and Pandora.
“The San Francisco Bay Area continues to be the center of innovation in the technology industry, ranging from cloud applications to online gaming,” said Charles Meyers, president, Equinix North America. “Equinix is proud to call many of the world’s most progressive companies customers and to be able to further facilitate the rapid growth of the digital economy.”
Equinix, Inc. (NASDAQ: EQIX) connects businesses with partners and customers around the world through a global platform of high performance data centers, containing dynamic ecosystems and the broadest choice of networks. More than 3,100 enterprises, cloud, digital content and financial companies connect to more than 600 network service providers and rely on Platform Equinix to grow their business, improve application performance and protect their vital digital assets. Equinix operates in 35 strategic markets across North America, Europe and Asia-Pacific and continually invests in expanding its platform to power customer growth.
Learn more at http://www.equinix.com
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Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX centers and developing, deploying and delivering Equinix services; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenue from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; 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's filings with the Securities and Exchange Commission. In particular, see Equinix's recent 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.
Equinix and IBX are registered trademarks of Equinix, Inc. International Business Exchange is a trademark of Equinix, Inc.