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Switch, Inc. (SWCH) SEC Filing 10-Q Quarterly Report for the period ending Wednesday, March 31, 2021

Switch, Inc.

CIK: 1710583 Ticker: SWCH

Exhibit 99.1

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Switch Launches Fifth Prime Campus in Texas;

Agrees to Acquire Data Foundry

Company Provides Preliminary First Quarter 2021 Results

LAS VEGAS, NV — May 3, 2021 — Switch, Inc. (NYSE: SWCH) (“Switch”), the exascale technology infrastructure corporation, today announced that it has launched its Fifth Prime location in Texas. To launch this initiative, Switch has entered into a definitive agreement to acquire Data Foundry, Inc. (“Data Foundry”), a carrier-neutral colocation provider, for $420 million in an all cash transaction. The acquisition is expected to close by mid-2021, subject to the satisfaction of customary closing conditions, including regulatory approval.

Headquartered in Austin, Texas, and with data centers in Austin and Houston, Data Foundry is strategically located in a rapidly growing technology hub which offers a highly favorable business environment for both mature enterprises and early-stage growth companies. In addition, the transaction provides Switch with attractive future expansion opportunities in Texas, which complements and diversifies Switch’s existing geographic footprint and revenue exposure.

The acquisition of Data Foundry expands the Switch portfolio to 16 operational data centers across six locations and will anchor the company’s Fifth Prime data center campus. The acquisition will also add over 400 customer logos, offering robust cross-selling opportunities and the potential for significant customer expansion.


The following information was filed by Switch, Inc. (SWCH) on Monday, May 3, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Switch, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

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Inside Switch, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statement Of Stockholders' Equity
Consolidated Statement Of Stockholders' Equity (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Commitments And Contingencies
Commitments And Contingencies (Details)
Compensation Related Costs, Share Based Payments
Compensation Related Costs, Share Based Payments (Tables)
Equity Method Investments
Equity Method Investments (Details)
Equity-Based Compensation - Total Equity-Based Compensation Recognized In The Consolidated Statements Of Comprehensive Income (Details)
Income Taxes
Income Taxes - Narrative - (Details)
Long-Term Debt
Long-Term Debt (Tables)
Long-Term Debt - Narrative (Details)
Long-Term Debt - Summary Of Long-Term Debt (Details)
Net Income Per Share
Net Income Per Share (Tables)
Net Income Per Share - Calculation Of Basic And Diluted Net Income Per Share (Details)
Net Income Per Share - Potentially Dilutive Securities Excluded From The Computation Of Diluted Net Income Per Share (Details)
Non-Controlling Interest
Non-Controlling Interest (Tables)
Non-Controlling Interest - Narrative (Details)
Non-Controlling Interest - Ownership Of Common Units (Details)
Organization
Property And Equipment, Net
Property And Equipment, Net (Tables)
Property And Equipment, Net - Components Of Property And Equipment, Net (Details)
Property And Equipment, Net - Depreciation And Amortization Of Property And Equipment (Details)
Property And Equipment, Net - Narrative (Details)
Segment Reporting
Segment Reporting (Tables)
Segment Reporting - Composition Of Revenue (Details)
Segment Reporting - Narrative (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Concentrations Of Credit And Other Risks (Details)
Summary Of Significant Accounting Policies - Derivative Financial Instruments (Details)
Summary Of Significant Accounting Policies - Fair Value Measurements (Details)
Summary Of Significant Accounting Policies - Foreign Currency Translation (Details)
Summary Of Significant Accounting Policies - Opening And Closing Balances Of The Company's Contract Assets And Deferred Revenue (Details)
Summary Of Significant Accounting Policies - Remaining Performance Obligations (Details)
Summary Of Significant Accounting Policies - Revenue Recognition (Details)

Material Contracts, Statements, Certifications & more

Switch, Inc. provided additional information to their SEC Filing as exhibits

Ticker: SWCH
CIK: 1710583
Form Type: 10-Q Quarterly Report
Accession Number: 0001710583-21-000024
Submitted to the SEC: Mon May 10 2021 4:15:14 PM EST
Accepted by the SEC: Mon May 10 2021
Period: Wednesday, March 31, 2021
Industry: Computer Programming Data Processing

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