Equinix Inc, the global digital infrastructure company, has announced that it will acquire MainOne, a West African data center and connectivity solutions provider, with a presence in Nigeria, Ghana, and Côte d’Ivoire.
The acquisition which is expected to close in Q1 of 2022, signals Equinix’s expansion into Africa. The transaction has an enterprise value of US $320 million.
Founded by Funke Opeke in 2010, the company has enabled connectivity for the business community of Nigeria and now has digital infrastructure assets including three operational data centers, with an additional facility under construction expected to open in Q1 2022.
Upon closing, these facilities will add more than 64,000 gross square feet of space to Platform Equinix, with 570,000 square feet of land for future expansions.
MainOne owns and operates a subsea network from Nigeria to Portugal, as well as 1,200 kilometers of reliable terrestrial fiber network across southern Nigeria.
These are all improving connectivity to and from Europe, West African countries and the major business communities in Nigeria. When completed, this acquisition will extend Platform Equinix into West Africa, giving organizations based inside and outside of Africa access to one of the world’s fastest-growing markets.
Charles Meyers, President and CEO, Equinix: “The acquisition of MainOne will represent a critical point of entry for Platform Equinix into the expansive and rapidly growing African market. MainOne’s leading interconnection position and experienced management team represent critical assets in our aspirations to be the leading neutral provider of digital infrastructure in Africa.
“Growth of data consumption in Africa is amongst the fastest in the world, and our customers are looking for a trusted partner to pursue the opportunities presented by broad mobile adoption and greater connectivity across the region. MainOne’s infrastructure, customer relationships, partner ecosystem and operating capability will extend the reach of Platform Equinix and bolster opportunities for customers in Africa and throughout the world.”
Under the terms of the transaction, the management team, including CEO Funke Opeke, will continue to serve in their respective roles.
Funke Opeke, Founder and CEO, MainOne: “Equinix will accelerate our long-term vision to grow digital infrastructure investments across Africa. I thank our founding shareholders led by Mr. Fola Adeola, MainStreet Technologies, AFC, PAIDF, FBN, Polaris, and AfDB for investing in the MainOne vision to bridge the Digital Divide in Africa. With similar values and culture to what we have jointly built-in twelve years, Equinix is the preferred partner for our growth journey. The MainOne team is excited about the partnership created through the acquisition, and we look forward to building our next chapter together.”
Eugene Bergen, President, EMEA, Equinix: “Expansion in Africa has long been a strategic priority for us. With MainOne, we have found a company that not only has highly complementary data center and connectivity assets but can further accelerate the expansion of our business model and growth objectives.
“CEO Funke Opeke and her team have built a powerful and dynamic infrastructure that will enable international customers to access the continent and African organizations access to the global Equinix platform. Customers can take full advantage of Equinix’s leading global interconnection services to connect with customers and partners, participate in rich digital ecosystems and expand their business across Africa and around the world.”
