Data centres thrive as cloud computing balloons

Nick LenaghanProperty editor

Updated Dec 18, 2017 – 6.28pm, first published at 11.42am

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The global surge in cloud computing is fuelling a race for space in the data-centre sector as the world's biggest operator, Equinix, buys out local player Metronode in a $1.035 billion deal.

The deal to buy Metronode from its owner, the private equity arm of Canada's Ontario Teachers' Pension Plan, was struck at more than 20 times earnings as revealed in Street Talk.

Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts.