Equinix wraps up $335m Packet acquisition in eight weeks
The transaction accelerates Equinix’s strategy to help enterprises deploy hybrid multi-cloud architectures as enterprises embrace digital transformation.
Equinix (Nasdaq: EQIX) has completed the acquisition of bare metal automation platform Packet less than two months after it was initially announced.
As a part of the $335 million transaction, the combined company will operate the existing Packet business as “Packet, an Equinix company,” while developing new solutions for enterprise customers that combine Packet’s bare metal automation technology with the interconnection fabric of Platform Equinix.
Zachary Smith, former CEO of Packet, will serve as managing director of the bare metal business, according to the company.
“We started Packet to help make infrastructure a competitive advantage for the leading companies of the world,” said Smith.
“As part of Equinix, we’re excited to take the next step on our journey and accelerate that vision globally.
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“In my new role, I look forward to leading our combined bare metal efforts and leveraging the unique strengths of both Packet and Equinix to help digital businesses seamlessly deploy on Platform Equinix.”
Bare metal is a new category of digital infrastructure, enabling businesses to deploy workloads on single-tenant hardware, distributed geographically.
The company mentioned that bare metal allows companies to select and deploy their own choice of operating system or virtualization software in hybrid multi-cloud environments.
“The Packet acquisition represents a bold move to accelerate our strategy for helping enterprises quickly and seamlessly deploy hybrid multi-cloud architectures on Platform Equinix,” said Sara Baack, Chief Product Officer, Equinix.
“By combining Packet’s innovative and agile bare metal automation technology with our dynamic data centre and interconnection platform, we can offer our customers an alternate, agile way to deploy and consume private digital infrastructure.
“This approach will make it easier for our customers to extract greater value from our rich ecosystems, superior global reach and the interconnection platform.”
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