LONDON, Sept. 7, 2006 (PRIMEZONE) -- TelecityRedbus today announced that it has completed its $62 million (approximately GBP33 million) acquisition of Globix Corporation's wholly-owned UK subsidiary, Globix Holdings (UK) Limited ("Globix UK").
The merged businesses have created one of Europe's most advanced data centre networks, providing businesses with over 550,000 sft of high-tech hosting infrastructure in 19 fully-fitted data centres, across seven European countries.
The acquisition also includes Globix' industry-leading Internet network infrastructure, providing direct high-speed links to the major European business hubs of Paris, Frankfurt and Madrid. In addition, Globix brings one of the industry's most complete portfolios of managed services including managed hosting solutions, disaster recovery, network security and application management.
"The acquisition of Globix UK puts TelecityRedbus in an unrivaled position. We are now able to provide new and existing customers with the most advanced data centre services in Europe," said Mike Tobin, CEO of TelecityRedbus. "Globix has a significant presence in the market, and we have combined the strengths of Globix' infrastructure and employees with our own business to ensure that our customers are able to take full advantage of the burgeoning Internet market. We will continue to look at other complementary acquisitions in the future," continued Mike.
The acquisition will:
-- Expand TelecityRedbus' operational footprint to 550,000 sft in 19
fully-fitted data centres, across seven European countries
-- Deliver a comprehensive portfolio of managed data centre services
to over 2,000 customers from FTSE 100 companies through to SMEs
and the public sector
-- Broaden and deepen market and product knowledge to enable the rapid
delivery of new products and service solutions
"Both companies had reached a similar level of maturity, and market conditions for an acquisition were favorable," said Philip Cheek, Managing Director, Globix UK. "TelecityRedbus and Globix have extremely complementary businesses and the motivation for this deal was simply to create the leading provider of data centre services in Europe. Combining both these forces will bring huge benefits and opportunities to businesses looking to benefit from the Internet."
The integration of the two businesses will commence immediately and will be completed towards the end of the year.
Mike Tobin will continue as the CEO and Philip Cheek, Managing Director of Globix UK will be responsible for the integration of the two businesses. The Globix management team will remain with the company and take on senior positions.
TelecityRedbus now has over 300 employees and is continuing to grow its operations. It projects a combined turnover of at least GBP76 million for 2006.
The Globix Corporation logo is available at http://media.primezone.com/prs/single/?pkgid=487
Notes to Editors
Combined customer list
TelecityRedbus will add Globix' 400 customers including Lloyds TSB, The Telegraph, Carphone Warehouse, 888.com and Ebookers, to its client base, which already includes major UK brands including the BBC, Guardian Unlimited, Sony Computer Entertainment and FriendsReunited, creating a combined customer base of over 2,000.
About TelecityRedbus
TelecityRedbus is a leading data centre and managed services company, operating one of the largest networks of carrier-diverse data centre facilities in Europe. TelecityRedbus offers content rich digital businesses, corporate enterprises, communications service providers and the public sector flexible, scalable data centre and IT infrastructure hosting solutions enabling them to meet the growing demands of the 24x7 economy.
On 6 September 2006, TelecityRedbus acquired the European business and assets of Globix Corporation, a leading provider of Internet infrastructure and managed services. TelecityRedbus now has over 300 employees supporting 19 fully fitted data centres across seven European countries, enhancing its position as one of the largest and most advanced data centre infrastructure and managed service providers in Europe.