Brexit? ‘Major US international bank’ signs 10-year contract with Europe’s largest data centre campus (which happens to be in the UK)
Move shows that uncertainty around Brexit is not killing business as American organisations continue to invest in the UK ahead of the country’s exit from the EU.
A financial institution with an international footprint has signed a ten-year contract with UK-based data centre operator Next Generation Data (NGD).
The company runs Europe’s largest data centre campus which amounts to 750,000 sqf of space.
The name of the US bank has not been disclosed due to security reasons.
In a statement, NGD said: “The bank’s relocation to NGD is in line with the bank’s best practice code for ensuring distances of at least 100km between data centre locations.”
The provider has agreed terms to supply 750kW of power over ten years to the bank which took possession of a custom data hall on the Welsh campus last month.
Nick Razey, CEO of Next Generation Data, said: “We are seeing more and more financial institutions shifting towards edge data centre facilities due to the risks posed by saturated, under threat metro zones.
“At the same time many can no longer afford the luxury of legacy facilities sitting on their balance sheets which in the UK is forcing them to choose less expensive alternatives to London, especially with the impending rise in business rates.”
In February, NGD appointed Bill McHenry as non-executive director to sit on its board as the company seeks to attract more business from North America.
McHenry told Data Economy: “The model that NGD have established in EMEA, their responsiveness to market movements and new technology can easily translate to the North American market.
“Despite the uncertainties of the post Brexit market, NGD have already demonstrated the ability to deliver multinational projects and programs including for some of the world’s largest IT services and software companies.
“The new paradigm increases the opportunities as people will gravitate to proven entities with existing deep roots and proven quality product delivery.”