Feeds

NextDC raises AU$50m for growth

Investors dig datacentres

High performance access to file storage

The cloud business is continuing drive investment in Australia, with nascent data centre operator NextDC raising Au$50m to ramp up its planned expansion plans here and in New Zealand.

Following the capital raising, the ASX listed company said it had over $AU150 million equity and approximately $AU95 million cash in the bank.

NextDC, which listed on the Australian Stock Exchange in a $AU40 million IPO, has outlined ambitious plans to construct data centres across Sydney, Melbourne, Brisbane, Perth, Canberra and Auckland in a bid to "become the most recognised, connected and trusted data centre brand in Australia and New Zealand".

NextDC CEO, Bevan Slattery, said: "With its strong balance sheet, already secured ideal data centre sites, access to significant power and fibre optic infrastructures, and most importantly, an experienced team of people, NextDC is on track to enable the cloud revolution by delivering a national network of independent data centres in Sydney, Melbourne, Brisbane, Canberra and Perth."

The proceeds of the capital-raising will be split across the company's planned data centre deployment including the build and fit-out of the Melbourne (M1) data centre at $AU32m; the fit-out, security deposit and associated costs for the Canberra (C1) facility at $AU15 million; and $AU3 million for offer costs and additional working capital.

In April, NextDC secured a site for its Sydney hub, with plans to open the centre in Q3 2012. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.