Equinix Announces $500 Million Share Repurchase Program

  Equinix Announces $500 Million Share Repurchase Program

Business Wire

REDWOOD CITY, Calif. -- December 4, 2013

Equinix, Inc. (Nasdaq:EQIX), the global interconnection and data center
company, today announced that its Board of Directors has authorized a share
repurchase program of up to $500 million through December 31, 2014. Share
repurchases may be made by the company from time to time in open market
transactions at prevailing market prices or in privately negotiated
transactions.

“The $500 million share repurchase authorization reflects our confidence in
Equinix’s long-term strategy and commitment to a disciplined capital
allocation program. Our first priority is to continue to invest in the
business to capitalize on expansion opportunities in existing and potential
future markets around the world. At the same time, Equinix’s financial
performance and the strength of our balance sheet, gives us both the
confidence and the flexibility to execute this share repurchase program
thereby creating significant shareholder value,” said Steve Smith, Equinix CEO
and president.

The actual timing, number and value of shares repurchased under the program
will be determined by management at its discretion, and will depend on a
number of factors, including the trading price of the stock, compliance with
the terms of our outstanding indebtedness, general market and business
conditions and applicable legal requirements. Equinix has no obligation to
repurchase any shares under the authorization, and the repurchase program may
be suspended, discontinued or modified at any time, for any reason and without
notice.

About Equinix

Equinix, Inc. (Nasdaq:EQIX), connects more than 4,400 companies directly to
their customers and partners inside the world’s most networked data centers.
Today, businesses leverage the Equinix interconnection platform in 31
strategic markets across the Americas, EMEA and Asia-Pacific. www.equinix.com.

Forward Looking Statements

This press release contains forward-looking statements that involve risks and
uncertainties. Actual results may differ materially from expectations
discussed in such forward-looking statements. Factors that might cause such
differences include, but are not limited to, the challenges of acquiring,
operating and constructing IBX centers and developing, deploying and
delivering Equinix services; unanticipated costs or difficulties relating to
the integration of companies we have acquired or will acquire into Equinix; a
failure to receive significant revenue from customers in recently built out or
acquired data centers; failure to complete any financing arrangements
contemplated from time to time; competition from existing and new competitors;
the ability to generate sufficient cash flow or otherwise obtain funds to
repay new or outstanding indebtedness; the loss or decline in business from
our key customers; and other risks described from time to time in Equinix’s
filings with the Securities and Exchange Commission. The timing and amount of
our common stock that we repurchase will depend on a number of factors as
described above. For more information regarding the risks and uncertainties
that Equinix faces see Equinix’s recent quarterly and annual reports filed
with the Securities and Exchange Commission, copies of which are available
upon request from Equinix. Equinix does not assume any obligation to update
the forward-looking information contained in this press release.

Equinix and IBX are registered trademarks of Equinix, Inc.
International Business Exchange is a trademark of Equinix, Inc.

Contact:

Equinix Media Contact
Melissa Neumann, +1 650-598-6098
mneumann@equinix.com
or
Equinix Investor Contact
Katrina Rymill, +1 650-598-6583
krymill@equinix.com
 
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