Equinix, Inc. (EQIX, Financial) operates a global network of state-of-the-art data centers. Its shares performed well, as the company completed its long-awaited transformation into a REIT, thereby reducing its cost of capital and attracting an additional class of shareholders. Equinix also continued to be involved in expanding its network through accretive acquisitions. We continue to like the growth prospects for the data center business, and we believe that Equinix has a clear and sensible plan to continue growing revenues at a faster pace than its peers while improving business efficiencies and recognizing margin improvement.
From the Baron Asset Fund shareholder letter Q3 2015 by Andrew Peck.
