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Telecity Buys Finland’s Tenue, Reports Solid Growth

August 6th, 2012 by · Leave a Comment

There was a bit of data center M&A this morning over in Europe, as Telecity Group (LON:TCY, news, filings) bought itself a footprint in Finland. They have acquired Tenue Oy, an operator of one of the most connected facilities in Helsinki, for £3.7M. The deal brings them 1MW of capacity now, with another 4MW under construction.  In terms of space, their Hiomo facility is 500m2 with expansion to 1000m2, and their new Vantaa facility has 4,000m2 planned.

More importantly, the purchase gives TelecityGroup a foothold to the east, close to Russia and the Baltic countries, whose Internet presence has been growing rapidly over the past several years. It looks as if they have interest in making further acquisitions as well, continuing to expand beyond their main turf of the UK and Amsterdam.

Telecity Group also reported its earnings for the first half of 2012, checking in with revenues of £137.3m and EBITDA of £62.6m. Those numbers up 22.4% and 26.6% straight up, or 25.6% and 30.4% in constant currency terms – a very solid growth rate no matter how you slice it.

They confirmed their outlook for the second half, with “an encouraging order book pipeline for the remainder of the year and a largely stable and predictable cost base.” Nice to see at least one part of the European economy doing so well these days.

More on this topic (What's this?)
Nokia: Finland’s ‘No’ May Lead To Buyout
Finnish Nuclear Project Needs Partner
Read more on Investing in Finland at Wikinvest
Categories: Datacenter · Financials · Mergers and Acquisitions

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