Vocus buys Perth data centre
Acquisition hunger mounts
Posted in Financial News, 28th March 2011 22:45 GMT
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ASX listed data centre provider Vocus Communications is expanding its footprint to Perth, entering into negotiations to buy Perth data centre operator PerthiX.
Vocus has paid an upfront consideration of $6.275m in cash with an additional performance earn out of up to $725,000 should the business exceed FY12 forecasts.
Vocus unveiled its first datacentre in Sydney in December which it inherited through its $5.9 million acquisition of E3 Networks The transaction includes PerthiX’s 86 customers, most of which are carriers and ISPs.
PerthiX claims that the data centre currently at 95% occupancy, “client retention at an all time high, PerthiX is in excellent health, and poised to continue its success.”
The co-location facility has a strong brand in Perth, and provides Vocus with a data centre in one of Australia's fastest growing markets and close proximity to Asian clients.
The Perth iX facility was launched in 2001 at a cost of approximately $3.6 million, according to the company. It has subsequently gone through some infrastructure upgrades worth $1.4 million. The acquisition will be funded from existing cash reserves.
PerthIX's General Manager, Adam Gardner, will continue to lead the Perth team who will be integrated into the Vocus technical and operational teams. ®
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