GPX Global Systems Inc. Announces The Sale Of Its Indian Ope
NEW YORK, Aug. 10, 2020 /PRNewswire/ -- GPX Global Systems Inc., the premier provider of carrier-neutral Edge data center services in Africa and South Asia, today announced the sale of its Indian operations to Equinix, Inc. (NASDAQ: EQIX), the all-cash transaction value of US$161 million is expected to close in Q4 2020, subject to customary closing conditions including regulatory approval.
Equinix is acquiring GPX's leading high-availability, carrier-neutral edge data center business in India, consisting of 2 Tier 4 data centers. GPX Mumbai1 is a 30,000 sq/ft datacenter, and the recently opened Mumbai2 datacenter will a 60,000 sq/ft facility when fully built. The two facilities are interconnected with GPX's Data Center Interconnect network. GPX's datacenters host the largest internet ecosystem in India including 12 Telcos, 130+ ISPs, 4 Internet Exchanges, 8 Cloud Service Providers, plus all of the leading global CDNs and content providers (OTTs) creating an unrivaled internet and cloud ecosystem.
Nick Tanzi, President & CEO, GPX Global Systems, commented: "After 7 years of building our business in India I could not think of any company better suited than Equinix to expand the platform GPX has created in India and help our customers continue to grow. Equinix and GPX share common business philosophies including a commitment to carrier neutrality, a passion for delivering the highest quality customer service in the market and fostering the growth and development of our employees. I'd like to thank our customers for providing GPX the privilege of serving them over the last seven years, and also thank our employees for always putting our customers first and doing whatever was necessary to meet our customer's needs."
"GPX Global Systems will now turn its attention to growing our business throughout Africa using our Egyptian business as the anchor for our expansion. We believe Africa represents a very similar opportunity which drove our investments in India, including rapidly increasing mobile usage, increased subsea fiber investments, and ever increasing growth in content consumption and data usage. We look to offer customers within new markets we expand to the same unparalleled service and support which has made GPX the first choice for customers in both Egypt and India."
KPMG India acted as the exclusive financial advisor and provided end-to-end advisory support and Kanga & Company (www.kangacompany.com) acted as the exclusive legal advisor to GPX Global Systems, Inc. on this transaction.
GPX builds and operates next-generation Tier 4, private, carrier-neutral data centers in emerging commercial markets along important undersea cable system routes. GPX has been recognized as the premier provider of carrier-neutral colocation facilities within African and South Asian markets. www.gpxglobal.net
Equinix, Inc. (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. On this global platform for digital business, companies come together across more than 50 markets on five continents to reach everywhere, interconnect everyone and integrate everything they need to create their digital futures. www.equinix.com.
SOURCE GPX Global Systems Inc.