Digital infrastructure provider, Equinix is to expand into Africa with the acquisition of data centre and connectivity solutions provider, MainOne.
The transaction has an enterprise value of $320m and is the first step in Equinix's long-term strategy to become a leading African carrier neutral digital infrastructure company.
Since it was founded in 2010, MainOne has enabled connectivity for the business community of Nigeria and now has digital infrastructure assets including three operational data centre, with an additional facility under construction expected to open in Q1 2022. It also owns and operates a subsea network from Nigeria to Portugal, as well as 1,200km of terrestrial fibre network across southern Nigeria. Under the terms of the transaction, the management team, including CEO Funke Opeke, will continue to serve in their respective roles.
Charles Meyers, President and CEO, Equinix commented: ‘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. 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.’
Added MainOne’s Opeke: ‘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 12 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.’
