Equinix acquires three data centers from TIM in Southeast Asia

Equinix announced its planned entry into the Philippines with the acquisition of three data centers from Total Information Management, or TIM, a technology solutions provider. Following the recently announced expansions in Malaysia and Indonesia, this strategic move aims to help businesses expand and capitalize on the digital opportunity of the Southeast Asia region. The all-cash transaction represents a multiple of approximately 15x the projected EBITDA at full utilization and is expected to close in 2H 2024, subject to customary closing conditions. The acquisition of the three high-performance data centers will provide capacity for Equinix to address the digital needs of local and overseas businesses in the Philippines.