Equinix plans to expand data centre footprint in Japan through acquisition of Bit-isle

The offer price is JPY922 per share, in an all cash transaction totaling 33.3 billion Japanese Yen or approximately $280m US dollars. The tender offer period is expected to run from 9th September 2015 to 26th October 2015, unless the tender offer period is extended. The offer is conditioned on, among other things, the tender by Bit-isle shareholders of more than 66.66 per cent of the Bit-isle shares. If the conditions to the tender offer are satisfied, Equinix will move forward to acquire any remaining shares under Japanese corporate law and expects to complete the acquisition of Bit-isle by early 2016.

The board of directors of Bit-isle has agreed to endorse the tender offer. Additionally, the major shareholders of Bit-isle, Warehouse Terrada, Mr Kohei Terada and Mr Yasunobu Terada, have agreed to tender all of their shares, representing 29.74 per cent of Bit-isle shares on a fully diluted basis.

The acquisition of Bit-isle will further strengthen Equinix’s position in Asia-Pacific – the company’s fastest growing region – improve the company’s market position in Japan, and help meet growing demand for interconnection among Japanese businesses. With Bit-isle, Equinix will have strong local expertise to help drive success in Japan.

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