Verizon Communications is unloading its data center business to Equinix, the world's largest data center REIT, for $3.6B as the firm solidifies its focus on advertising.
Verizon put its 24 data center properties that span 15 markets up for sale about two years ago, after deciding to transition from the data-hosting business. Instead the nation's largest wireless carrier is focusing its efforts on its mobile video and advertising business.
Once the deal closes, Equinix's data center portfolio will jump to 175 data centers under management in 43 markets around the world, Bloomberg reports. The sale is expected to close mid-2017 and will help replenish Verizon’s cash after finalizing its acquisition of Yahoo for $4.83B. [Bloomberg]
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