World Economy

Equinix to Buy Telecity for $3.6b

Equinix to Buy Telecity for $3.6bEquinix to Buy Telecity for $3.6b

Equinix Inc., a US-based data-center operator, agreed to buy Telecity Group Plc for 2.35 billion pounds ($3.6 billion), expanding in Europe and scuttling the UK company’s planned merger with Interxion Holding NV, Bloomberg reported. Equinix is paying a mixture of cash and stock that equals 1,145 pence a Telecity share, the companies said in a statement Friday. That’s 5 percent more than the stock’s latest closing price in London. Telecity’s board is recommending the offer. The deal means Telecity’s planned combination with Interxion of the Netherlands will be terminated.