Research Desk Line-up: Coupa Software Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 13, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Equinix, Inc. (NASDAQ: EQIX), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=EQIX. The Company announced on September 11, 2017, that it has entered into an agreement with The Carlyle Group for the purchase of Itconic, a leading data center, connectivity and cloud infrastructure solutions provider, operating in Spain and Portugal. The acquisition also includes an Itconic subsidiary, CloudMas, which is focused on supporting enterprise adoption and use of cloud services. Equinix has agreed to pay about $259 million in an all-cash transaction. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Discover more of our free reports coverage from other companies within the Internet Software & Services industry. Pro-TD has currently selected Coupa Software Incorporated (NASDAQ: COUP) for due-diligence and potential coverage as the Company announced on September 05, 2017, its financial results for Q2 FY18. Tune in to our site to register for a free membership, and be among the early birds that get our report on Coupa Software when we publish it.

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The Announcement

Equinix views this acquisition as a step to strengthen its position in Europe and to extend its footprint in two new geographical markets in the region. The CloudMas business delivers a highly experienced team of technology professionals with extensive expertise in hybrid cloud architectures and cloud adoption and migration strategies. The acquisition includes five data centers in four metros, adds about 322,000 gross square feet to the Equinix International Business Exchange data center portfolio. The agreement was signed on September 08, 2017, pursuant to which, the acquisition is expected to close in Q4 2017, subject to customary closing conditions including regulatory approval.

As a result of the acquisition, the Company will serve more than 400 customers, including enterprise brands like L'Oreal, Deloitte, Repsol, Real Madrid, Bank of America, etc. Equinix expects the acquisition to support growth in traffic between Europe, Latin America, and Africa, driven by new submarine cable systems, which would enable accelerated traffic globalization and data consumption, eventually leading to spontaneous growth of cloud and online platforms. Post-acquisition, more than 250 employees would join the Equinix team in Europe, where Equinix currently operates more than 180 International Business Exchange (IBX) data centers in 44 markets.

The Power Purchase Agreement

On August 16, 2017, Equinix announced the signing of a 15-year Power Purchase Agreement with a subsidiary of Southern Company. Under terms of the agreement, Bloom Energy fuel cells would be installed in 12 IBX data centers in the US. The project, post completion, will provide a total capacity of more than 37 megawatts of power, where the phased installation is expected to begin in late 2017, through 2019.

Once installed and operational, the fuel cell project will operate at world-leading efficiency, delivering power that is 20%-45% clear than the equivalent energy provided by natural gas-based power generation. The project, over its lifetime, is expected to avoid 0.66 million tons of carbon emissions and save 87 billion gallons of water, that would have been exploited by natural gas or coal-fired utility generation.

Company Growth Prospects

Prior to the announcement, on August 15, 2017, the Company announced its expansion in Hong Kong with the opening of its fifth IBX data center. The $32 million facility is customized to meet demand for interconnection from the city's financial services firms and other industries, where it is scheduled to open in Q4 2017. The IBX center will have more than 48,000 sq. ft. of colocation space and will add 1,200 cabinets to the Company's footprints in the city post completion.

Last Close Stock Review

At the closing bell, on Tuesday, September 12, 2017, Equinix's stock dropped 1.27%, ending the trading session at $468.38. A total volume of 452.41 thousand shares have exchanged hands. The Company's stock price skyrocketed 8.79% in the last three months, 22.81% in the past six months, and 27.97% in the previous twelve months. Moreover, the stock soared 31.05% since the start of the year. The stock is trading at a PE ratio of 172.33 and has a dividend yield of 1.71%. The stock currently has a market cap of $36.73 billion.

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SOURCE: Pro-Trader Daily