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U.S. data firm Equinix clinches new JV deals with Singapore's GIC

Reuters
·1-min read
FILE PHOTO: Lights illuminate rack servers inside the data center of Equinix in Pantin

(Reuters) - U.S.-based data centre firm Equinix Inc on Monday said it had signed agreements for additional joint ventures with Singapore's sovereign wealth fund GIC to add $3.9 billion to expand a data centre programme.

The agreements for additional joint ventures in the form of limited liability partnerships with GIC, when closed, will bring the xScale data centre portfolio to more than $6.9 billion across 32 facilities globally, Equinix said in a statement.

The joint venture projects are expected to close during the course of 2021. GIC will own an 80% equity interest in the future joint ventures and Equinix will own the remaining 20% equity interest, the statement added.

Last year in April, Equinix signed a joint venture worth more than $1 billion with GIC to build three data centres in Japan for the cloud computing market.

(Reporting by Kanishka Singh in Bengaluru; Editing by Stephen Coates)