An acquisition deal by Equinix is expected to fetch MainOne, $320 million by the close of the Q1 of 2022.
The acquisition of the Nigerian-owned data center and connectivity solutions provider is part of Equinix’s long-term plan strategy to become an African carrier neutral digital infrastructure company.
MainOne the first privately owned company to land a submarine cable in Nigeria, Ghana, and the Ivory Coast’s acquisition is seen as the latest move by Equinix which only last year expanded to India through the acquisition of GPX India for $161 million and acquired 13 data centers from Bell Canada for $780 million.
Equinix acknowledged in an official statement that acquiring MainOne is its long-term strategy to become an African carrier with a stronghold in Africa’s largest economy which has more than 200 million people along with Ghana both of which have become an established data center hub.
Key assets to be acquired by Equinix upon conclusion of the deal include three operational data centers and one under construction expected to open in the first quarter of 2022 and the brain behind the data center and connectivity solutions provider, Funke Opeke, MainOne’s founder and CEO, who is expected to continue in her role.
Starting up with the laying of its 7,000 km fiber optic cable network from Portugal to Nigeria in 2008, MainOne has been providing internet to Nigerian businesses, homes, internet service providers, and large telecom operators like MTN and Airtel, to a pan-African company covering 10 countries.
Opeke had said the acquisition will accelerate MainOne’s long-term vision to grow digital infrastructure investments across Africa and described Equinix as its preferred partner for the next growth journey of the company, she also added that MainOne’s 500-person team, with its facilities that generate approximately $60 million annual revenue and a purchase multiple of approximately 14x is excited about the partnership, she added.
About Equinix
Equinix is the world’s digital infrastructure company with capacities to interconnect industry-leading organizations in finance, manufacturing, mobility, transportation, government, healthcare, and education across a cloud-first world.
Founded in Silicon Valley in 1998 as a vendor-neutral multitenant data center provider where competing networks could securely connect and share data traffic.
Equ-N-I-X is a reflection of the company’s focus on EQUality, Neutrality, and Internet eXchange.
Today Equinix has 220+data centers in 60+ markets on five continents connecting enterprises, networks, services, and innovators from Mumbai to Dublin, Singapore to Chicago, and Helsinki to San José. Digital leaders worldwide harness Equinix trusted platform to bring together and interconnect the foundational infrastructure that powers their success.
Thousands of leading enterprises have a presence in Equinix global data centers, putting new opportunities with service providers, partners, and customers within easy reach. Equinix provides the global reach, the rich ecosystem, and the service excellence today’s enterprises need to compete and win whether you’re building a history-making product, blazing an industry-first business model, or pioneering a new way to collaborate globally.
