Recently listed telecommunications service provider, Vocus (ASX: VOC) is to acquire the Sydney and Melbourne data centre businesses of E3 Networks for $5.9 million.
According to Vocus, both facilities have been constructed in the last two years and the Sydney data centre is able to support power density ratings of up to 30KW per rack, among the highest in the industry.
The CEO of E3, Jon Eaves, will join Vocus as the general manager of the Vocus Data Centre business, responsible for the management and expansion of the data centre business unit.
Vocus CEO James Spenceley said the acquisition would allow Vocus to provide its customer base with a full service offering at a time when there is a significant demand for data centre space and would provide Vocus with a platform to further expand into data centres and attract new customers for both its wholesale Internet business, its new peering product and other business opportunities.
The transaction is expected to complete on 30 November 2010. Vocus will pay $4.9m in cash, from existing cash reserves, and $1.0m in Vocus shares at $0.85 per share. Vocus expects the transaction will add at least $1.5m of underlying annualised profit before tax to its bottom line.
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