Equinix and GIC finalize data center JV

Equinix and GIC, Singapore’s sovereign wealth fund, have completed the formation of a $1 billion European data center joint venture, Equinix announced today.

Previously announced in July, the joint venture will develop and operate xScale™ data centers across Europe.

The facilities will serve the workload deployment needs of a targeted group of hyperscale companies, including Alibaba Cloud, Amazon Web Services, Microsoft Azure, Oracle Cloud Infrastructure and Google Cloud.

Charles Meyers, CEO at Equinix, described the joint venture as a “strategic milestone” as part of a movement to deepen its relationships with these companies.

Meyers said Equinix aims to launch similar joint ventures in other operating regions as part of an effort to help businesses bolster their digital infrastructure using hybrid multicloud strategies.

The six facilities in the joint