Equinix Inc. (Nasdaq: EQIX) is adding data center depth with the acquisition of Tokyo-based Bit-isle Inc. for 33.3 billion Yen (U.S. $280 million).
Bit-isle owns five data centers in Tokyo and one in Osaka. The acquisition should allow Equinix to create the fourth largest data center operator in Japan, according to the company, and strengthen the company’s position in the Asia-Pacific region.
Redwood City, California-based Equinix operates data centers in 33 markets on five continents. The company, under CEO Stephen Smith, agreed to buy U.K.-based Telecity Group plc for about $3.6 billion in May to create a trans-Atlantic data-center operator.
Bank of Tokyo-Mitsubishi has committed to providing a one-year senior bridge term loan for the deal.
There have been a few data-center deals recently, including Intel Corp.’s agreed acquisition of Altera Corp. Dealmaker expectations for technology deals are high, accord to Mergers & Acquisitions Mid-Market Pulse, a forward-looking sentiment indicator derived from monthly surveys of approximately 250 executives published in partnership with McGladrey LLP. Tech deals are expected to flourish during the next few months.