INXN
Interxion Holding N.V
TMT, Event Driven/Special Sit
10/21/2015
Presented
| Date | 10/16/2015 |
| Price | $27.97 |
| Market Cap | $1.97B |
| Ent Value | $2.49B |
| P/E Ratio | 38.85x |
| Book Value | $7.73 |
| Div Yield | 0% |
| Shares O/S | 70.61M |
| Ave Daily Vol | 375,705 |
| Short Int | 0.93% |
Current
| Price | $77.41 |
| Market Cap | $5.93B |
| Interxion Holding NV is a provider of cloud and carrier-neutral colocation data centre services in Europe, serving a wide range of customers through its data centers. Its data centers offer customers extensive security and uptime for their mission-critical applications. The company, through its data centers, also enables customers to connect to a broad range of telecommunications carriers, Internet Service Providers and other customers. The company's data centers act as content, cloud and connectivity hubs that facilitate the processing, storage, sharing and distribution of data, content, applications and media between carriers and customers, creating an environment that the company refers to as a community of interest. Its core offering of carrier and cloud neutral colocation services includes space, power, cooling and a secure environment in which to house its customers computing, network, storage and IT infrastructure. The company supplements the core colocation offering with a number of additional services, including network monitoring, remote monitoring of customer equipment, systems management, engineering support services, cross connects, data backup and storage. Interxion Holding was founded on April 6, 1998 and is headquartered in Schiphol-Rijk, the Netherlands. |
Publicly traded companies mentioned herein: InterXion Holding NV (INXN), Equinix (EQIX), TeleCity (TCY LN), Digital Realty (DLR), Nippon Telegraph & Telephone (NTT), KDDI Corp (KDDIF), Level 3 (LVLT) and Zayo (ZAYO)
Highlights
InterXion is a data center provider regarded by some as the Equinix (EQIX) of Europe. The company provides data center services for both wholesale and retail customers. TeleCity (TCY LN), another prominent player in the European market, earlier this year attempted to merge with INXN, with the stock trading to the mid $30s on the news. The deal shortly thereafter was scuttled when Equinix made its own bid for TeleCity. Further compounding matters, PE fund Baker Capital - which previously owned about 30% of INXN - decided to distribute its shares of INXN to its investors when the deal fell apart, putting further pressure on the stock. Additionally, monthly recurring revenue has been comping down for the past four quarters, leading some to question the overall health of the business. With the stock seemingly forgotten following the collapse of the deal, the presenter sees a cheap asset that ultimately could once again be an M&A target.
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