Amsterdam-based Interxion, which provides carrier and cloud-neutral colocation data centre services, announced this week it has agreed to be acquired by Digital Realty, a data center services company.

The transaction values Interxion at $8.4 billion and brings added value to the company. Interxion will benefit from Digital Realty’s global footprint, helping it build its presence in the Americas, EMEA, and Asia Pacific. “We also believe our stakeholders will benefit from Digital Realty’s investment grade balance sheet and lower cost of capital,” said Interxion CEO David Ruberg.

“The transaction is expected to be accretive to the long-term growth trajectory of the combined organization, and to establish a global platform that we believe will significantly enhance our ability to create long-term value for customers, shareholders and employees of both companies,” said Digital Realty CEO A. William Stein.

Once the deal is finalized the new entity will be called Interxion, a Digital Realty company. Interxion CEO David Ruberg will serve as the CEO of the combined company’s Europe EMEA business while Stein will serve as CEO of the combined company.

Finalization of the deal is subject to closing conditions and shareholder approval. The transaction is expected to close in 2020.

Interxion was founded in 1998 and now serves its customers through 50 data centrs in 11 European countries. The company is partnered with more than 700 connectivity providers, 21 European internet exchanges, as well as many cloud and digital media platforms.

At FinDEVr Silicon Valley 2015, Interxion’s VP of Enterprise Bill Fenick, gave a presentation titled Quants in a European Cloud.