Interxion Reports €159.4m In Revenues For Q3 2019 Amid Digital Realty Acquisition
The cancellation of the company’s earnings conference call was due to Interxion’s previously announced definitive agreement to combine with Digital Realty.
Interxion reported a revenue increase of 12% to €159.4m from €142.2m Q3 2018, and reported that its recurring revenue had increased by 13% to €152.3m.
The company also reported that its net income had increased by €10.6m to €21.5m, and capital expenditures, including intangible assets, were €150.6 million.
“Interxion posted solid results for the third quarter led by 13% recurring revenue growth and strong margins,” said David Ruberg, Interxion’s Chief Executive Officer.
“Favourable demand trends for colocation reflect ongoing migration towards cloud and digital content platforms by enterprises and consumers.
“The platform providers continue to expand their presence in Europe and seek line of sight to substantial future capacity, which we are well placed to deliver at our highly-connected campuses in key cities across Europe.”
Last week, Interxion and Digital Realty announced that they are set to combine their businesses to create a global provider of data centre, colocation and interconnection solutions.
Under the terms of the agreement, Interxion shareholders will receive a fixed exchange ratio of 0.7067 Digital Realty shares per Interxion share.
Based on Digital Realty’s closing stock price of $132.28 on 28 October 2019, the transaction values Interxion at $8.4bn.
“The combination of Interxion with Digital Realty is compelling from a strategic perspective and brings together two highly complementary businesses in terms of market positioning and geographical footprint,” said David Ruberg, Interxion’s Chief Executive Officer.
“We are creating one of the largest data centre operators in the world. This transaction offers our shareholders an attractive return and, as you will see in forthcoming filings, follows many discussions over several years with potential strategic and financial acquirers of Interxion and other parties that have sought to pursue transactions with us.
“We strongly believe that the combination with Digital Realty will deliver significant long-term value for all our stakeholders.”
Industry: Data Centre
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