Data centre operator Vantage Data Centers acquired Luxembourg-headquartered peer Etix Everywhere yesterday for an undisclosed amount, allowing infrastructure group Keppel to exit.
Etix operates 12 data centres covering 50 MW of capacity and has a large-scale 55 MW hyperscale campus under construction in Frankfurt, Germany.
Although US-based Vantage did not disclose how much it paid for Etix, it said the deal forms part of a $2bn European growth push. The purchase also gives it four greenfield land sites in the cities of Berlin, Milan, Zurich and Warsaw that will be developed into new facilities.
Etix had raised $62.7m in a June 2019 series C round featuring $15.7m from Keppel subsidiary Keppel Data Centres and extra funding from financial services firm SBI’s Crypto Investment unit and French government-backed fund STOA.
SBI Crypto Investment had paid an undisclosed amount for a 41% stake in Etix in mid-2018, following $17m from investment manager InfraVia and private equity firm Tiger Infrastructure Partners three years earlier.
Antoine Boniface, Etix’s CEO, is joining Vantage as president of Europe. The deal was financed by $800m in equity financing from investment firm Digital Colony Partners and undisclosed existing backers.
Vantage was acquired by a consortium made up of communications infrastructure provider Digital Bridge, Public Sector Pension Investment Board and TIAA Investments in 2017.
Sureel Choksi, Vantage’s president and chief executive, said: “As data centre demand from our customer base continues to rapidly increase worldwide, Vantage is embarking upon its largest expansion ever into Europe through the development of five strategic markets.
“The acquisition of Etix accelerates our expansion to Frankfurt, Europe’s highest growth hyperscale market. We are very excited to welcome Antoine and his team to lead our European business.”
