Equinix agreed to acquire the India operations of GPX Global Systems for US$161 million in cash, representing a multiple of approximately 15x the projected EBITDA at full utilization.
GPX India's assets include a fiber-connected campus in Mumbai with two data centers, adding more than 1,350 cabinets, with an additional 500 cabinets at full buildout. The facilities will add more than 90,000 square feet of colocation space to Platform Equinix when fully built. GPX India offers a cloud dense environment and access to major cloud services, including Amazon Direct Connect, Google Cloud Dedicated Interconnect and Oracle Cloud Infrastructure FastConnect. GPX India operates its own cloud interconnection solution.
Equinix notes that GPX India facilities also host key internet exchanges such as Mumbai IX-DECIX, AMS-IX India, Extreme IX and Bharat IX, allowing ISPs, carriers, CDNs and large enterprises to exchange internet traffic.
"India represents the second largest internet user base in the world, with consumption expected to grow with the continued advancement of internet infrastructure, smartphone ownership and the penetration of 4G and 5G. Extending Platform Equinix to India has long been a strategic objective for Equinix and we are excited that the GPX transaction will allow us to capitalize on this market opportunity and meet the needs of our customers as they seek to expand their digital businesses," states Charles Meyers, President and CEO, Equinix.
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