Switch & Data Facilities Company, Inc.
Switch and Data (NASDAQ: SDXC) was a leading provider of network neutral data center and Internet exchange services supporting the needs of the world's leading online brands. Switch and Data operated 34 sites across North America specifically designed to house the equipment its customers use to aggregate and distribute data and digital media content. These sites provided the space, redundant power and cooling, and security necessary for customers to safeguard their infrastructure and interconnect with business partners and network service providers.
The first of a series of investments was made in 1999, when the Company was positioned to benefit from the rapid growth of its telecom and Internet service customers, as well as attractive acquisitions in what was a highly fragmented market. Despite experiencing a very difficult market from 2001 to 2003, Switch and Data grew from a start-up business to an industry leader through a combination of organic and acquisition growth.
In February 2007, the Company completed a successful IPO, realizing a significant gain for the investors. In May 2010, Equinix, Inc. (NASDAQ: EQIX), a provider of global data center services, announced the completion of its acquisition of Switch and Data (NASDAQ: SDXC) in a transaction valued at approximately $700 million.
