Equinix Inc. has just entered into a definitive agreement to acquire a portfolio of 25 data centers from BCE Inc. (Bell) for US$750 million (CA$1,041 million) in an all-cash transaction.

These data centers are spread across 13 sites within Canada, and the acquisition deal adds the associated operations and over 600 customers operating within the facilities to Equinix’s portfolio.

“This transaction reinforces Bell’s strategy to focus investment on the network infrastructure, content and services necessary to advance how Canadians connect with each other and the world,” said Mirko Bibic, President and CEO of BCE Inc.

“Equinix, with its expanding platform of data centers here in Canada and worldwide, is well-positioned to maximize the opportunities these facilities represent for Canadian businesses in an increasingly global and interconnected data sector.”

This announcement is coming just after Equinix made a public offering of 2,250,000 shares of its common stock, and stated that it will use a portion of the net proceeds to fund the acquisition of selected data center sites and their operations.

As announced, the terms of the agreement allows Equinix and Bell to begin a strategic partnership to enable enterprises in Canada leverage hybrid multicloud solutions to accelerate their digital transformation.

The global interconnection and data center giant Equinix, currently boasts of operating more than 210 data centers across 55 metros. This acquisition will further expand the company’s coverage in Canada, extending its footprints to seven new metros in six provinces which include Calgary, Alberta; Kamloops and Vancouver, British Columbia; Millidgeville, New Brunswick; Montreal, Quebec; Ottawa, Ontario; and Winnipeg, Manitoba.

“Canadian businesses are in the midst of a significant transformation as they evolve their operations to be increasingly digital and cloud-enabled. With a platform that enables companies to increase the scale, reach and connectivity of their growing digital businesses, Equinix provides a compelling vision for businesses to rapidly and broadly interconnect with the people, locations, cloud services and data that matter most to their business,” said Charles Meyers, President and CEO of Equinix.

“This expansion is a significant win for Canadian businesses, as well as for multinational companies that can leverage Platform Equinix to increase their digital presence in Canada by interconnecting to a rich ecosystem of customers, business partners and other strategic companies in Canada.”

The 13 data center sites, six of which are owned assets, will add approximately 1.2 million gross square feet of data center space and 400,000 square feet of colocation space to Platform Equinix.

The acquisition deal is expected to close in the second half of 2020, subject to customary closing conditions including regulatory approval.