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NEW YORK – Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced it has entered into a definitive agreement to sell 24 data center sites to Equinix, Inc. (Nasdaq: EQIX) in a transaction valued at approximately $3.6 billion.
Equinix will own and manage 24 Verizon customer-facing data sites, consisting of 29 data center buildings, in the United States and Latin America. The transaction is expected to close by mid-2017.
This transaction aligns with Verizon’s strategy to focus resources in areas that will help drive digital transformation for enterprise customers, while providing world-class service. The sale does not affect Verizon’s managed hosting and cloud offerings, or its data center services delivered from 27 sites in Europe, Asia-Pacific and Canada.
Citi and Guggenheim Partners are acting as financial advisors to Verizon. Jones Day is acting as legal advisor to Verizon.