February 1, 2010
Equinix announces preliminary results of Switch and Data stockholder elections
Foster City, CA, February 1, 2010 - Equinix, Inc. (NASDAQ: EQIX), a provider of global data center services, today announced preliminary results of the elections made by Switch and Data stockholders with respect to the merger consideration that they are entitled to receive pursuant to, and subject to, the terms and conditions of the merger agreement between Equinix and Switch and Data. As of 5:00 p.m Eastern time on January 29, 2010, the election deadline, holders of 7,186,295 shares of Switch and Data stock had elected to receive $19.06 in cash, and holders of 23,009,358 shares of Switch and Data stock had elected to receive 0.19409 shares of Equinix stock, for each share of their Switch and Data stock.
As previously announced, Switch and Data stockholders may revoke their elections at any time prior to 5:00 p.m. Eastern time on the date that is two business days preceding the closing date of the merger by delivering to the exchange agent a written notice of revocation. Accordingly, the election results described above are preliminary and may change as a result of such revocations. Shares of Switch and Data common stock as to which an election has been revoked after the election deadline will be deemed non-electing shares, and no new election as to such shares may be made after the election deadline.
Equinix does not intend to update these election results in the future and assumes no obligation to do so.
Completion of the merger remains subject to the expiration or termination of the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended, and the satisfaction or waiver of the other closing conditions specified in the merger agreement between Equinix and Switch and Data. The merger is expected to close in the second quarter of 2010. Switch and Data will announce the expected closing date of the merger by issuing a press release and filing that press release on Form 8-K with the Securities and Exchange Commission no later than five business days before the expected closing date.
Equinix, Inc. provides global data center services that ensure the vitality of the information-driven world. Global enterprises, content and financial companies, and more than 350 network service providers rely upon Equinix's insight and expertise to protect and connect their most valued information assets. Equinix operates 45 International Business Exchange™ (IBX®) data centers across 18 markets in North America, Europe and Asia-Pacific.
Important information about Equinix is routinely posted on the investor relations page of its website located at www.equinix.com/investors. We encourage you to check Equinix's website regularly for the most up-to-date information.
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX centers and developing, deploying and delivering Equinix services; unanticipated costs or difficulties relating to the integration of Switch and Data into Equinix; a failure to receive significant revenue from customers in recently built out data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; the results of any litigation relating to past stock option grants and practices; and other risks described from time to time in Equinix's filings with the Securities and Exchange Commission. In particular, see Equinix's recent quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
Equinix and IBX are registered trademarks of Equinix, Inc. International Business Exchange is a trademark of Equinix, Inc.