WASHINGTON (dpa-AFX) - Equinix Inc. (EQIX) announced agreements for additional joint ventures in the form of limited liability partnerships with Singapore's sovereign wealth fund GIC, which when closed and built out will bring the xScale data center portfolio to greater than $6.9 billion across 32 facilities globally.
'For years, the world's largest cloud service providers, including Alibaba Cloud, Amazon Web Services, Google Cloud, IBM Cloud, Microsoft Azure and Oracle Cloud Infrastructure, have partnered with Equinix to leverage its global platform of more than 220 data centers to directly connect to their strategic business partners and customers,' said Charles Meyers, CEO of Equinix.
After deal closing and buildout, the xScale data center portfolio will span three regions Europe, Asia-Pacific, and Americas. Three additional sites are expected to be announced at a future date.
It is expected that the xScale portfolio of 32 facilities will provide more than 600 megawatts (MW) of power capacity when fully built out.
The JV projects in today's announcement are expected to close in several waves over the course of 2021, pending regulatory approval and other closing conditions.
Under the terms of the JV agreements, GIC will own an 80% equity interest in the future joint ventures and Equinix will own the remaining 20% equity interest.
Copyright RTT News/dpa-AFX
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