The global leader in collocation data centers, Equinix, has announced a brand new venture with the Singapore based GIC. The joint venture signed between Equinix and GIC entails a $1 billion limited liability partnership.
The partnership will see the companies build and operate xScale data centers in Europe. Equinix in its press release said: “The initial facilities in the joint venture will serve the unique core workload deployment needs of a targeted group of hyperscale companies, including the world's largest cloud service providers.”
The new xScale data centers which are to be created through the partnership will be located on or near Equinix’s IBX campuses. These data centers will help the providers handle more customer access points and rapidly-scaling workloads.
Currently, Equinix has more than 200 IBX campuses which cover over 50 metro areas all over the world. The new xScale data centers will help the edge services in increasing connection speeds for the cloud customers and will cater to the needs of hyperscale companies.
Charles Meyers, President and CEO of Equinix said: “The JV structure will enable us to extend our cloud leadership while providing significant value to a critical set of hyperscale customers. We look forward to launching similar JVs in other operating regions and believe that these efforts will continue to further differentiate Equinix as the trusted center of a cloud-first world.”