August 30, 2010
Equinix Plans To Build $63 Million International Business Exchange Data Center In Hong Kong
Foster City, CA and Hong Kong - August 30, 2010 - Equinix, Inc. (Nasdaq: EQIX), a provider of global data center services, today announced plans to build its second International Business Exchange™ (IBX®) data center, HK2, in Hong Kong. The new $63 million HK2 IBX data center will provide total capacity for more than 1,450 cabinet equivalents. Targeted for opening in the third quarter of 2011, the $20 million first phase of the HK2 IBX center will offer an initial 450 cabinet equivalents. The expansion enables Equinix to continue serving the Hong Kong market with business exchange services for global enterprises, banking and financial companies, and cloud and IT service providers.
The Hong Kong market is one of the largest concentrations of banking and financial companies in the region. Located near the existing HK1 IBX data center in the western part of the New Territories region, the HK2 facility will have direct fiber connection with the HK1 IBX data center. This connectivity enables prospective customers at HK2 to enjoy close proximity and direct access to the financial ecosystems, including trading venues, buy and sell side firms, market data providers, technology providers and financial networks, at the HK1 IBX data center. The new IBX data center will also feature highly reliable data center services and operations, offering availability, scalability and low latency connectivity to a wide range of networks available at the HK1 IBX data center. These services are especially important to cloud and IT service providers looking to optimize business exchange and increase end-user satisfaction.
“Companies seek to deploy mission critical applications within a well-connected, carrier-neutral data center operator with a presence around the world,” said Steve Smith, CEO and President of Equinix. “Equinix's global platform provides state-of-the-art colocation and reliable interconnection services across 35 markets. Our customers can choose from top network providers and connect with partners in market ecosystems to optimize business performance.”
“Hong Kong is a critical data center market for global customers. For the past two years, Equinix has been expanding its HK1 IBX data center to meet increasing demand, which is currently operating at more than 70 percent utilization. The HK2 expansion will help service ongoing customer demand, further demonstrating Equinix's commitment and confidence in the Hong Kong market,” said Jonathan Leung, managing director, Equinix Greater China.
The HK2 is the fourth in a series of recently announced IBX data center expansions in the Asia Pacific region. Equinix has recently announced the expansion of SY3 data center in Sydney, the third phase expansion of the existing SG2 center in Singapore, and launched a new market in Shanghai with its partnership with Shanghai Data Solution (SDS).
Equinix, Inc. (Nasdaq: EQIX) provides global data center services that ensure the vitality of the information-driven world. Global enterprises, cloud, content and financial companies, and more than 595 network service providers rely on Equinix. The company operates 90 International Business Exchange™ (IBX®) data centers across 35 markets in North America, Europe and Asia-Pacific. Learn more at http://www.equinix.com.
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.