Equinix Acquires 3 Data Centres in the Philippines to Extend Digital Infrastructure Platform
It Follows the Company's Recent Expansions in Malaysia and Indonesia as Southeast Asia Grows as a Digital Hub
Equinix, Inc., the world’s digital infrastructure company®, recently announced its planned entry into the Philippines with the acquisition of three data centres from Total Information Management (TIM), a leading technology solutions provider.
Following the recently announced expansions in Malaysia and Indonesia, this strategic move by Equinix aims to help businesses expand and capitalise on the digital opportunity of the fast-growing Southeast Asian region. The all-cash transaction represents a multiple of approximately 15x the projected EBITDA at full utilisation and is expected to close in 2H 2024, subject to customary closing conditions.
Leveraging the Equinix Platform for Data Sharing and Interconnection
The acquisition of the three high-performance data centres will provide capacity for Equinix to address the digital needs of local and overseas businesses in the Philippines. Enterprises, cloud and IT service providers, and network service providers around the world can leverage Platform Equinix® to interconnect and exchange data privately and securely within a vibrant ecosystem of business partners and customers.
Existing customers of TIM, including network and financial services companies, will also gain access to Equinix’s global ecosystems of more than 10,000 companies, including more than 2,000 networks and 3,000 cloud and IT service providers.
Southeast Asia’s digital economy grew to USD $218 billion in gross merchandise value (GMV) in 2023. In particular, the Philippines’ digital economy is expected to continue its upward climb toward USD $35 billion by 2025, growing at a compound annual growth rate (CAGR) of 20%.2 The country is also seeing a surge in demand for digital infrastructure services, driven by a highly engaged digital population, booming e-commerce adoption, and various government initiatives to promote digitisation, such as the E-Government Masterplan 2022 and the Digi-Ed 2028 program.
Jeremy Deutsch, President, Asia-Pacific, at Equinix, said: “We are thrilled to announce our expansion into the Philippines, a vibrant and rapidly expanding digital economy that presents immense opportunities for our valued customers and partners. This strategic acquisition, combined with our recent expansions in Malaysia and Indonesia, as well as the awarded data centre capacity in Singapore, will greatly enhance our footprint in the region. This expanded digital infrastructure will also enable our customers to thrive and embrace digital transformation, harnessing the potential of emerging technologies like private AI. This acquisition perfectly aligns with our vision to extend our leadership in the Asia-Pacific region, while driving the acceleration of the digital economy.”
Jose Mari M. Antunez, Chairman at Total Information Management, commented: “Equinix’s strong reputation and expertise in the industry make them the ideal partner to take our data centre business to new heights. While TIM will continue to remain as a system integrator, helping our customers through their digital transformation strategies, this deal will bring immense benefits to our customers. Equinix’s global platform and extensive network will provide enhanced connectivity, scalability and access to a thriving ecosystem of partners. We are confident that Equinix’s commitment to excellence and customer-centric approach will ensure a seamless transition and deliver unparalleled value to our customers.”
