Equinix, an interconnection and data center company, has announced on Thursday its plan to develop a new data center in Milan, investing a total of $51 million. The site will be operational in Q1 2021.
The upcoming data center called ML5 is an International Business Exchange (IBX) and will offer colocation services with advanced interconnection services, including Equinix Cloud Exchange Fabric (ECX Fabric) and Equinix Internet Exchange.
Commenting on the development, Emmanuel Becker, Equinix’s managing director in Italy, said: “This latest investment shows our continued support for the Italian market as a strategic interconnection point. With this new site, we are further providing for companies in Italy looking to expand both locally and internationally.”
Expanding services aggressively with deep pockets
The ML5 IBX is the fourth data center for Equinix in Italy, where existing Equinix data centers are already providing access to a wide choice of network service providers, internet exchange points, content delivery, and cloud service providers.
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This expansion came only a few months after the company raised $750 million through a credit agreement to enhance its overall liquidity.
Last month, Equinix also announced the expansion of its Dallas Infomart Data Center campus with the opening of a new $142 million IBX data center and the launch of its 5G and Edge Proof of Concept Center (POCC).
“Italy is a key growth market for Equinix in EMEA, particularly in the areas of automotive and financial services,” Judith Gardiner, vice resident of growth and emerging markets at Equinix, added.
“This expansion supports the increasing demands we’re seeing from companies in Italy and the wider region to accelerate their digital transformation—which has only accelerated in the wake of COVID-19. ML5 will play a key role in helping businesses thrive in the evolving digital economy, through the formation of an interconnected metro area where customers can seamlessly connect with strategic business partners in Italy and across the world.”