California-based data centre firm Equinix has completed its purchase of IO UK’s data centre business on the outskirts of London. The facility, based in Slough, is to be renamed LD10 and will be connected to the existing eight Equinix data centre estates around London.

The former IO facility is a development phase asset, which started operating in 2015. IO UK generated revenues of approximately $1.4 million in the year up to December 31, 2015 – the last fully reported period.

The purchase agreement was signed on January 7, with the acquisition completed at the beginning of February. Financial details are yet to be disclosed.

The data centre sits on a plot of almost 5 acres, and the building’s shell has a total area of 112,000 sq.f. with 43,670 sq.f. used for colocation. Equinix is expected to add around 350 cabinets’ worth of capacity and achieve a total colocation space of 3,340 cabinets once the build is complete.

According to an Equinix release, the current IO UK customer portfolio is similar to its own customer base, including financial services, enterprise, and networks.

Equinix’s British data centres provide business services for around 1,300 UK companies. As the latest addition, the Slough centre will sit in a central position for one of Europe’s largest financial trading communities – with approximately 25% of European equities trades based in the area.

Equinix has invested heavily in expansion plans recently. With this latest transaction, Equinix will manage an international portfolio of 147 IBX data centres in 40 markets. The forthcoming acquisition of Verizon’s data centres in the Americas will further boost this figure to 175 facilities in 43 markets.

The data centre giant is also a force for innovation in the field and is currently looking into introducing space laser connectivity systems into its global facilities to beam IP bandwidth via satellites.

Announcing the project last October in collaboration with space optics firm Laser Light, Equinix said that the first Point of Presence (PoP) will be introduced at the Equinix DC11 International Business Exchange data centre in the Washington, D.C. area, before rolling out to facilities in the UK, Japan, Brazil, Australia, the Middle East and Europe.