Equinix to acquire bare metal automation platform Packet

Maria Nikolova

The acquisition is in line with Equinix’s strategy to help enterprises more seamlessly deploy hybrid multicloud architectures on Platform Equinix.

Global interconnection and data center company Equinix Inc (NASDAQ:EQIX) today announces that it has entered into a definitive agreement to acquire bare metal automation platform Packet.

The acquisition is set to add momentum to Equinix’s strategy to help enterprises more seamlessly deploy hybrid multicloud architectures on Platform Equinix and obtain greater value from the platform’s rich ecosystems and global interconnection fabric.

Equinix intends to leverage the Packet offering to accelerate the development and delivery of its interconnected edge services. Via the combination of Packet’s innovative and developer-oriented bare metal service offering and Equinix’s interconnection capabilities and organic bare metal efforts, Equinix aims to create a world class, enterprise-grade bare metal offering across Platform Equinix that allows customers to rapidly deploy digital infrastructure, within minutes, at global scale.

Thanks to a combined Equinix and Packet solution, enterprises and service providers will be able to build and deploy low-latency services at the edge either through their choice of owned physical deployments, or by utilizing the combined offering, which leverages as-a-service consumption to reduce CAPEX and resource requirements.

Equinix anticipates the Packet acquisition to close during the first quarter of fiscal year 2020. Equinix is poised to disclose additional details of the deal upon completion of the acquisition.

Read this next

Executive Moves

Genesis Global snatches CMO Jason Jhonson from metaverse company

The hire of Jhonson follows the announcement that Genesis raised $20 million in fresh funding from US banking giants, Bank of America, BNY Mellon and Citi.

Digital Assets

Celsius subsidiary GK8 integrates with Polygon while looking for new owner

“This integration affords our customers more agility in managing their crypto assets, which is key to creating new revenue streams.”

Digital Assets

BDO Italia audits Tether reserves to release monthly attestation

World’s largest stablecoin issuer, Tether has switched the accounting firm that audits the massive reserves that back its USDT token to BDO Italia, the 5th largest accounting firm in the world.

Retail FX

Libertex bags multi-year sponsorship deal with FC Bayern

Indication Investments Ltd, the operator of FX retail brand Libertex, has secured a lucrative sponsorship deal with German soccer giant FC Bayern.

Institutional FX

PrimeXM reports lower volumes for July as summer lull bites

PrimeXM has reported weaker trading volumes for July 2022, in line with other institutional and retail platforms that saw the activity of their clients dropped compared to a month earlier.

Retail FX

FCA warns of ATFX Global Trading / ATFXcoin

In its latest clampdown against the specific type of ‘clone fraud’, the Financial Conduct Authority (FCA) has warned local investors to watch out for a company called ATFX Global Trading / ATFXcoin.

Digital Assets

CME Group to roll out options on Ether futures next month

Derivatives exchange CME Group is set to roll out options on Ether futures on September 12 in a move to bring another level of diversification to cryptocurrency traders.

Industry News, Podcasts

Finance Feeds launches Podcasts: Listen to Ep. #1 feat. Dmitri Galinov of 24 Exchange

The team at Finance Feeds are happy to announce the launch of our Podcast series, available on Spotify and other audio services and hosted by our Editor-in-Chief Nikolai Isayev.

Digital Assets

Madfish launches Yupana.Finance, the first lending protocol on Tezos

Yupana, which aims to provide a similar experience to Aave or Compound, currently supports TEZ, cTEZ, kUSD, tzBTC, uUSD, and uBTC.

<