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Equinix Management Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: EQIX

With more applications benefiting from a distributed architecture, we've seen attractive opportunity to help our customers expand their deployments into multiple regions across our global footprint.

Specifically, we have an increasing number of customers in Europe and North America who view Asia as a critical market for expansion. To enhance our ability to meet demand from these customers, this quarter, we acquired Asia Tone for $230.5 million, making Equinix the market leader in Hong Kong, strengthening our position in Singapore and establishing a significant presence in Mainland China.

Equinix gained a total of 6 data centers and 1 disaster recovery center, which includes 2 existing data centers in Shanghai plus a third under construction. This world-class data center is expected to open in Q3 this year, and we are already seeing a significant pipeline from customers looking to extend their footprint into Mainland China. Having just returned from Shanghai, I believe our strong local operating team, combined with this impressive facility, will give customers full confidence to expand with Platform Equinix into this critical market.

Similarly in Europe, we are using M&A to build network density in this region. Network density is the foundation upon which we build and support robust global ecosystems. As announced earlier this month, we completed the acquisition of ancotel, one of Europe's leading carrier-neutral colocation providers for $86 million. With ancotel, Equinix increases its network customer base from 700 to 900, considerably expanding our network density to include a broad mix of networks from both Western and Eastern Europe. Equinix now operates in over -- operates over 220,000 net sellable square feet of data center capacity across 4 data centers in the Frankfurt market, one of the world's busiest data hubs. ancotel also adds over 6,000 cross connects, bringing the total number of cross connects across Platform Equinix to approximate 110,000. ancotel is a powerful addition to our European business and delivers significant value to our global offering.

Read the rest of this transcript for free on seekingalpha.com

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