Vancouver’s Peer 1 Hosting (TSX:PIX) is again expanding its network of data-centres to tap growth in online IT hosting services in Europe.
Yesterday Peer 1 announced it started the build out of a 50,000, square-foot data-centre in Portsmouth, U.K.
The expansion follows the development of its data-centre in Toronto, which opened last spring.
The first of four stages in Portsmouth’s data-centre is to be completed in the fall at an initial cost of Ł10 million. The remaining stages are to be completed in the future based on consumer demand and market conditions.
The new centre is slated to be the largest of the 18 Peer 1 has around the world. It will have the capacity for 20,000 servers for managed and dedicated hosting.
The company said the new data-centre is meant to tap an expected doubling of demand for data-centre space by 2015. Fabio Banducci, Peer 1’s president and CEO, said, “We believe the new state-of-the-art facility in Portsmouth will play an important role in driving future growth and returns.”
Peer 1’s share price range during the past week: between $1.58 and $1.91; 52-week high: $2; 52-week low: $1.