Equinix’s $280 million figure was an approximate estimate announced in September 2015 for a conditional, all-cash tender offer for Japanese data-center operator Bit-isle. Equinix offered JPY 922 per share. The tender offer closed in November, and Equinix acquired the remaining shares in December; its fiscal 2015 Form 10-K later reported final consideration of JPY 33.196 billion, or approximately US$275.367 million.
Why did Equinix offer $280 million for Bit-isle?
Equinix said the acquisition would strengthen its position in Japan and help it meet customer demand for interconnection. The company said Bit-isle operated six data centers—five in Tokyo and one in Osaka—near existing Equinix International Business Exchange (IBX) facilities. Equinix described the proximity as creating campus-like environments for customers’ future expansion needs. These were Equinix’s stated strategic rationale and facility count, not an independent assessment of the market.
After the tender offer, Equinix described the combined business as Japan’s fourth-largest data-center operator. That ranking is attributable to Equinix; its announcement did not provide methodology that would establish it as an independently verified market ranking.
What were the offer terms?
In its September 8, 2015 announcement, Equinix said its Japanese subsidiary would offer JPY 922 in cash for each Bit-isle share. The company estimated the total value at JPY 33.3 billion, or approximately US$280 million. The dollar figure was an announcement estimate, not the final consideration recorded after the transaction.
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The offer was conditional. Equinix expected the tender period to run from September 9 through October 26, 2015, subject to extension, and specified conditions including tenders representing more than 66 2/3% of Bit-isle shares. The announcement described a proposed offer, not a completed purchase.
Did Equinix complete the Bit-isle acquisition?
Yes. Equinix announced on November 3, 2015 that the tender offer had completed on November 2, with approximately 97% of Bit-isle’s equity interests, including stock options, acquired through the offer. Equinix then acquired the remaining outstanding interests in December. Its December 9 announcement confirmed completion of that remaining-share acquisition.
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| Date | Transaction milestone |
|---|---|
| September 8, 2015 | Equinix announced the conditional tender offer through its Japanese subsidiary. |
| November 2, 2015 | The tender offer completed; Equinix reported acquiring approximately 97% of the equity interests, including stock options. |
| December 2015 | Equinix acquired the remaining interests; on December 9 it announced completion of the remaining-share acquisition. |
Why do the $280 million and $275.367 million figures differ?
They refer to different reporting stages and are stated at different levels of precision. The September announcement estimated the offer’s total at JPY 33.3 billion, approximately US$280 million. Equinix’s fiscal 2015 Form 10-K reported final consideration of JPY 33.196 billion, approximately US$275.367 million. The sources do not indicate that the per-share offer price changed; the announcement’s rounded dollar estimate should not be mistaken for the final reported amount.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What Bit-isle added to Equinix’s Japan presence
The acquired facilities extended Equinix’s existing footprint across Tokyo and Osaka. Equinix emphasized their proximity to its existing Japanese IBX data centers and presented that clustering as useful for customer expansion. The transaction therefore combined physical data-center capacity with Equinix’s existing interconnection presence, according to the company’s description.
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