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By | Kat Hall 15th January 2016 11:58

Telecity shuffles off London stockmarket

UK data centre biz waves goodbye, newly-formed US entity says howdy

Former UK-owned data centre outfit Telecity has today delisted from the London stock market, having formally been subsumed by US co-location giant Equinix following its £2.3bn acquisition.

The deal, which was announced back in May 2015, will add an annual revenue of £349m to Equinix's global turnover of $2.4bn (£1.7bn).

It will enhance Equinix's current global empire of more than 100 data centres across 15 countries by with another 40 European data centres. Equinix already had 30 server farms in Europe and one data centre in Dubai.

However, the outfit has been forced to offload its eight data centres in Amsterdam, London and Frankfurt as the price of EU approval of its takeover of Telecity.

Equinix said it has ploughed $7bn (£4.9bn) into acquisition since 1998.

Philip Carse, analyst at Megabuyte, notes that Equinix has a revenue of £490m in the Europe, Middle East and Africa region.

He added that Telecity is just the latest in a string of UK public company of note to be swallowed, with recent examples including Daisy and Xchanging - to name just two.

However, UK customers may feel less loyalty to the Telecity brand. In November a power fault at its hub fried computer hardware and dented UK internet traffic. The outfit unable to immediately resolve the problem, leaving customers without backup for up to two weeks. ®

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