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Report says Verizon is to sell its data centres to Equinix for $3.5bn

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Jeremy Green
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Equinix is believed to be the most suited acquirer.

According to a financial analyst s report, Verizon communications is expected to be drawing closer to selling its data centres to Equinix for around $3.5 billion.

Colby Synesael, a Cowen & Co LLC analyst said in a research report: We believe a transaction involving Verizon s co-location assets is imminent and that Equinix is the most likely acquirer.

Out of the 14 data centres Cowen & Co. believes may be in line to sell, the 750,000-square foot NAP of the Americas in Miami is the crown jewel.

The analyst estimates that this facility alone is responsible for about $100 million of the $250 million to $275 million in revenue they believe the portfolio generates for Verizon.

Verizon has declined to comment, instead saying that the company will provide an update on its sale process when it reports third quarter earnings.

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Jeremy Green
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