Digital Realty, Interxion to combine businesses in stock-for-stock deal
30 October 2019 | 0
Digital Realty is to acquire Interxion in a stock-for-stock deal that values the Dutch data centre operator at $8.4 billion. Under the terms of the agreement, which subject to ratification by share holders, Digital Realty CEO William Stein will serve as chief executive officer of the combined entity.
Interxion CEO David Ruberg will serve as chief executive of the Europe, Middle East & Asia operation, which will operate under the brand of Interxion, A Digital Realty Company. He is expected to leave the role within a year of the deal closing.
Digital Realty chief financial officer Andrew P. Power will serve as CFO of the combined entity.
The transaction is expected to close in 2020.
“Digital’s position in London and Dublin dovetails nicely with Interxion’s presence in Frankfurt, Amsterdam and Paris and across the rest of Europe,” said Stein on a conference call. “The pro forma business mix covers the continent and is well balanced between the major European metros.”
Digital Realty is based in San Francisco. In 2018 it reported revenue of $3 billion. This year the company announced a €200 million investment in Ireland following the opening of a global operations centre in Clonshaugh, Dublin – it’s fifth site in the country.
Founded in 1998 in The Netherlands, Interxion works with more than 700 connectivity providers and employs 50 people across 21 European Internet exchanges. It operates three data centres in Dublin.