Data center firm Equinix enters the Philippines, eyes on Southeast Asia
Adds background and deal details from paragraph 2 onwards
July 23 (Reuters) -Equinix EQIX.O has acquired three data centers in the Philippines from Total Information Management to expand its presence in the high growth potential region of Southeast Asia, the global data center firm said on Tuesday.
The U.S.-based company, which has already established its presence in countries in the region such as Indonesia and Malaysia, also intends to expand its footprint in Singapore as the compact city-state opens the door to building more facilities.
"This strategic acquisition, combined with our recent expansions in Malaysia and Indonesia, as well as the awarded data center capacity in Singapore, will greatly enhance our footprint in the region," said Jeremy Deutsch, president, Asia-Pacific, at Equinix, without divulging any financial details.
Most Southeast Asian countries present a conducive environment for data center establishments, thanks to their strong growth potential, young, tech-savvy population, inexpensive land and labor expense, and favorable policies.
Global tech giants such as Google, Microsoft, and Amazon have already invested billions of dollars in the region to cater to the burgeoning demand for artificial intelligence and cloud computing services.
Equinix will also expand in new markets including Jakarta, Indonesia, and Chennai, India later this year, it added.
Reporting by Sneha Kumar in Bengaluru; Editing by Nivedita Bhattacharjee and Rashmi Aich
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