Luxembourg-Based Internet Co-Location Group Gets Funding For Expansion

Ulrika Lomas, Tax-news.com, Brussels

08 January 2001

Global Switch SARL, a major Internet co-location company which was created in 1998 in the UK but is now incorporated and headquartered in Luxembourg, recently raised a further 280m euros in funding through the Royal Bank of Scotland to fuel its international expansion.

Global Switch deploys and manages facilities for the co-location and hosting of mission-critical services to support the Internet, telecommunications and data markets.

The funding is in the from of a 3.5 year Investment Loan which will be secured against the group's operational facilities in London, Paris and Amsterdam.

Andy Ruhan, chief executive of Global Switch, said of this latest boost to the company's expansionist plans: 'Our growth to date has been predominantly funded by our shareholders, which has allowed the group to operate on a flexible basis. We have now reached the stage where we can leverage against our asset base to assist our ambitious global expansion plan and to effectively manage our balance sheet. The funding will underpin our roll-out plan as well as support the development of new business streams.'

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