Verizon Communications Inc. agreed to sell its data-centers business to Equinix Inc. for at least $2 billion, according to a person familiar with the matter.
The deal includes 24 facilities, mostly old Terremark assets, said the person, who asked not to be identified discussing private information. Equinix, based in Redwood City, California, operates as a real estate investment trust, investing in interconnected data centers.
Verizon bought Terremark Worldwide Inc. for $1.3 billion five years ago to enter the data-hosting and cloud-services business. As those prospects faded and Verizon invested more areas like mobile video and advertising, the company decided to ...
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