With 18 data centers in seven European countries including Amsterdam, Dublin, Frankfurt, London, Manchester, Milan, Paris, and Stockholm, the company is believed to be the biggest operator in the area.
In the six months to June 30, it reported revenue of 46.1m ($92.9m) and earnings at the EBITDA level of 10.3m ($20.8m).
TeleCity used to be a public company but venture capitalists bought it for 57.9m pounds ($102.7m) in July 2005. It was then merged with Redbus Interhouse, which was taken private after accepting a 58.9m pound ($104.5m) offer. Both companies had been heavily loss-making and victims of inflated expectations during the dot-com boom.
TeleCity said strong demand for high-quality network-independent data centers, coupled with the limited supply of capacity, has led to rising occupancy levels, and it said this is having an upward influence on pricing.
It said there are high barriers to entry for potential new competitors, with the lack of availability of suitable space, and implementation barriers due to the extensive approvals required and the complex, expensive, and time-consuming task of fitting out greenfield sites.
London, UK-based TeleCity hosts three largest global internet exchanges (the Amsterdam Internet Exchange, the London Internet Exchange, and the Deutscher Commercial Internet Exchange. The company was fattened up last year with the $62m acquisition of the European operations of Globix.
