Interxion Prices IPO at High End of Range

Interxion Holding N.V. (INXN), a carrier-neutral colocation data center services, priced its IPO on 27th Jan., at high end range at $13 per share, giving first-day return of 6.2%.

Business Overview (from prospectus)

We are a leading provider of carrier-neutral colocation data center services in Europe. We support over 1,100 customers through 28 data centers in 11 countries enabling them to protect, connect, process and distribute their most valuable information. Within our data centers, we enable our customers to connect to a broad range of telecommunications carriers, Internet service providers and other customers. Our data centers act as content and connectivity hubs that facilitate the processing, storage, sharing and distribution of data, content, applications and media among carriers and customers, creating an environment that we refer to as a community of interest.

Offering: 20.4 million shares at $13 per share. Net proceeds from this offering will be used for general corporate purposes.

Lead Underwriters: BofA Merrill Lynch (BAC), Citi (C), Barclays Capital (BCS)

Financial Highlights:

Revenue increased to €152.8 million for the nine months ended September 30, 2010 from €126.6 million for the nine months ended September 30, 2009, an increase of 21%...Cost of sales increased to €67.9 million for the nine months ended September 30, 2010 from €58.2 million for the nine months ended September 30, 2009, an increase of 17%...Sales and marketing costs increased to €11.3 million for the nine months ended September 30, 2010 from €8.4 million for the nine months ended September 30, 2009, an increase of 33%...Net income decreased to €5.2 million for the nine months ended September 30, 2010 from €15.4 million for the nine months ended September 30, 2009...

Competitors

Carrier-neutral colocation data centers in Europe include Equinix (EQix), Telecity (TLCTF) and Telehouse. These companies are our chief competitors. IT outsourcers and managed services providers in Europe include HP (HPQ), IBM (IBM), Logica, Rackspace (RAX), Sungard and Terremark (TMRK). Competitor wholesale data center providers include Digital Realty Trust (DLR) and Global Switch. Carriers that operate their own data centers in Europe include AT&T (T), BT (BT), Cable & Wireless, Colt Telecom, Savvis and Verizon (VZ).

Additional Resources:

• Company website
• SeekingAlpha: InterXion Holding N.V. IPO: Content and Connectivity Hubs Look Promising
• Reuters: InterXion shares rise 6.2 percent in debut