Equinix Inc. (Nasdaq: EQIX), a global interconnection and data company, announced on Tuesday it is expanding its presence in Africa with the acquisition of MainOne, a West African data center and connectivity solutions provider.
Under the terms of the agreements, Equinix will acquire MainOne and its assets in an all-cash transaction for an enterprise value of $320 million, excluding integration costs.
The two companies are now deciding on the customary closing conditions and are expecting to close the transaction by the first quarter of 2022.
“The acquisition of MainOne will represent a critical point of entry for Platform Equinix into the expansive and rapidly growing African market,” said Charles Meyers, President and CEO at Equinix.
Massive Infrastructure across West Africa
MainOne has a presence in Nigeria, Ghana and Côte d'Ivoire and is one of the major digital infrastructure providers in West Africa. Additionally, the company was founded in 2010 by Funke Opeke and now has three operational data centers with an extra one expected to be added in Q1 of 2022.
The closing of this acquisition will add more than 64,000 gross square feet of space to Platform Equinix, along with 570,000 square feet of land for future expansions. Moreover, MainOne owns and operates a subsea network from Nigeria to Portugal and 1,200 kilometers of terrestrial fiber network across southern Nigeria.
“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,” Meyers added.
“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.”
