Equinix announced today its planned entry into the Philippines through the acquisition of three data centers from Total Information Management (TIM). This strategic move follows similar expansions in Malaysia and Indonesia, solidifying Equinix’s position as a key player in the booming Southeast Asian digital landscape.
The acquisition, expected to close in the second half of 2024, will see Equinix investing approximately 15 times the projected EBITDA of the data centers at full utilization. This investment underscores the company’s confidence in the Philippines’ growing digital economy.
The three high-performance data centers, with over 1,000 cabinets and room for growth, will provide Equinix with the capacity to serve both local and international businesses. By leveraging Platform Equinix®, enterprises, cloud and IT service providers, and network service providers can securely interconnect and exchange data within a thriving ecosystem of partners and customers.
Existing TIM customers, including key players in the network and financial services sectors, will benefit from access to Equinix’s extensive global network of over 10,000 companies, including 2,000 networks and 3,000 cloud and IT service providers.
According to Jeremy Deutsch, President, Asia-Pacific, Equinix, this acquisition, combined with their recent investments in Malaysia and Indonesia, as well as their planned expansion in Singapore, significantly strengthens their presence in Southeast Asia.
Equinix’s entry into the Philippines is expected to further stimulate digital growth and innovation in the country, attracting more foreign investments and driving economic development.
