Equinix Buying S&D

Steve Smith, CEO of Equinix, is excited because he just bought Switch and Data. From a letter he sent:

"Today, we announced our intention to acquire Switch and Data in a transaction valued at approximately $689 million of equity value which will further extend our leadership position in North America. The transaction will allow us to serve you as the most comprehensive data center services provider for your global online business needs. The transaction will include 34 data centers in 22 markets located in the United States and Canada and will extend the company's presence to 16 new markets across North America, including Atlanta, Denver, Miami, Seattle, and Toronto. The acquisition will add more than one million gross square feet of data center capacity, bringing Equinix's total global footprint to 79 data centers in 34 markets and more than six million square feet of capacity across the North America, Europe and Asia-Pacific markets."

Consolidation. Probably a good time for it in this space with all the buzz around Cloud, Virtualization, and the need for secure, reliable, redundant data centers.