InterXion Holding N.V. (INXN)

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This company completed an initial public offering (IPO) of its stock in 2010. View articles that reference this company. Recent IPOs:   Globe Specialty Metals   •   LogMeIn   •   Invesco Mortgage Capital   •   Medidata   •   Chemspec

 

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Remi Cossart

InterXion Holding N.V. (NYSE:INXN) operates a carrier-neutral colocation data center in Europe. The company makes money by providing its customers with space, power, cooling, and a secure location to store, process, and distribute their data, content, and applications. InterXion has approximately 1,100 customers and 28 data centers spread across 11 countries. The company makes additional money by offering extra services such as network monitoring, remote monitoring of equipment, data backup, and engineering support.^[1]

Due to the decreased cost of internet access and the increased usage of broadband, the global IP traffic is expected to grow by a compounded annual growth rate of 34% from 2009 to 2014. In addition, the presence cloud computing and hosted applications is also expected to rise. As a result, InterXion expects that the demand for computing space and power will grow across time as customers require additional processing, networking, and computer capabilities. By remaining carrier neutral, InterXion believes it can remain competitive as demand for data centers increases.^[2]

The company's initial public offering of stock on the NYSE occurred on January 27, 2011. The company offered 20.4M shares each for $13. This was at the high end of initial price range of $11-$13. This brought the total deal size to $265M. The lead underwriters of the IPO were BofA, Citi and Barclays (BCS).^[3]

In 2009, InterXion reported a total annual revenue of $246M. During the first 9 months of 2010, the company reported a total revenue of $208M. INXN's net income for the full year of 2009 was $38M, while for the first 9 months of 2010, it was $7M^[4]

References

1. ↑ INXN F-1/A 2011 PROSPECTUS SUMMARY "Overview" pg 1
2. ↑ INXN F-1/A 2011 PROSPECTUS SUMMARY "Industry Overview" pg 2
3. ↑ Renaissance Capital - IPO Home "InterXion prices IPO at $13, at high end of the range" 27 Jan 2010
4. ↑ INXN F-1/A 2011 PROSPECTUS SUMMARY "Summary Financial Information" pg 9