<p>Equinix, Inc. (Nasdaq: EQIX) continues its global expansion with its latest plans to enter South Africa. The company is willing to invest $160 million to establish a <a href=”https://www.financemagnates.com/terms/d/data-center/” target=”_blank” id=”15e21ee2-47b7-466a-8723-403e3053c1b2_1″ class=”terms__main-term”>data center</a> in Johannesburg that is expected to open in mid-2024.</p><p>The data center will be developed in phases. The first one will have a capacity of 4 MW, and completing two more consecutive phases will increase the total capacity to 20 MW. </p><p>The expansion is strategic for <a href=”https://www.financemagnates.com/tag/equinix/” target=”_blank” rel=”follow”>Equinix </a>as South Africa is “one of the largest and most digitally developed nations” in the continent. Further, a significant network of submarine communications cables from South Africa will help Equinix to build strategic links between countries and continents.</p><p>”This investment will give both South African businesses the opportunity to expand internationally and global businesses to expand into South Africa,” said Eugene Bergen, the President of EMEA at Equinix.</p><p>”Both will be able to accelerate their growth by rapidly scaling their infrastructure, easily adopting hybrid multi-cloud architectures, and interconnecting with business partners through the Platform Equinix ecosystem of more than 10,000 customers.”</p><p>Check out the recent London Summit session on “Advances in Trading Technology.”</p><p>Global Expansion</p><p>The company entered Africa earlier this year by closing a $320 million <a href=”https://www.financemagnates.com/terms/a/acquisition/” target=”_blank” id=”3180494d-8751-4a02-9476-86dc1cd4d2e2_1″ class=”terms__secondary-term”>acquisition</a> of <a href=”https://www.financemagnates.com/fintech/news/equinix-completes-320-million-acquisition-of-mainone/” target=”_blank” rel=”follow”>MainOne</a>, a West African data center with a presence in Nigeria, Ghana, and Côte d’Ivoire. Founded in 2010 by Funke Opeke, it is one of the largest data centers in West Africa.</p><p>In addition, the New York-listed firm expanded its footprint in Southeast Asia earlier this year and <a href=”https://www.financemagnates.com/fintech/equinix-enters-malaysia-commits-40m-to-building-data-center-in-johor/” target=”_blank” rel=”follow”>committed to investing $40 million to build a data center in Malaysia</a>. In October 2022, Equinix announced <a href=”https://www.financemagnates.com/forex/equinix-commits-45m-to-building-its-second-data-centre-in-colombia/” target=”_blank” rel=”follow”>another $40 million investment</a> to expand its presence in Bogotá, Colombia, and it plans to launch in the first half of 2023.</p><p>Meanwhile, the company reported <a href=”https://www.financemagnates.com/fintech/equinix-reports-212-million-in-net-income-for-q3-2022/” target=”_blank” rel=”follow”>$212 million as net income</a> in the third quarter of the ongoing year, which was generated through $1.8 billion in revenue. It is now expected to close 2022 with revenue ranging between $7.240 and $7.260 billion, increasing by 9 percent year-over-year.</p>
This article was written by Arnab Shome at www.financemagnates.com.
