Equinix, Inc., a digital infrastructure company listed on the Nasdaq Stock Exchange, has announced that it has finalized its acquisition of Nigerian-founded and headquartered data center and connectivity solutions provider, MainOne. The acquisition deal has been reported to be $320 million.
The acquisition signals the intentions of Equinix to become a leading Afrikan carrier-neutral digital infrastructure company that enables organizations of different sizes to accelerate their digital transformation.
According to a statement issued by the American company, Equinix believes Nigeria's MainOne to be one of the "most exciting technology businesses to emerge from Africa, and Lagos is rapidly becoming a key connectivity hub for the wider West Africa region."
Enabling connectivity for West Afrika
Founded by Funke Opeke in 2010, MainOne has enabled connectivity for the business community of Nigeria and by extension, the West Afrikan region. The company has digital infrastructure assets, including three operational data centers, with an additional facility in Lagos expected to open in April 2022. MainOne currently has a presence in Nigeria, Ghana, and Cote d’Ivoire.
Nigeria alone presents many opportunities for Equinix. The West Afrikan country has both the largest population and the largest economy of any country in Africa, with approximately 142 million active internet subscribers. It is also home to new innovative digital ecosystems in fintech and content and digital media.
Equinix has stated that it believes its acquisition of MainOne will extend its own Platform Equinix® into West Afrika. MainOne also has four operational data centers, which will add more than 64,000 gross square feet of space to Equinix's Platform Equinix, in addition to 570,000 square feet of land for future expansions.
Added to all that MainOne has an extensive submarine internet cable network extending 7,000 kilometers from Portugal to Lagos, Accra, and along the West Afrikan coast, with landing stations in Nigeria, Ghana, and Côte d’Ivoire.
Equinix believes MainOne to be one of the most exciting technology businesses to emerge from Afrika.
Equinix's completion of the MainOne acquisition marks the latest in a series of strategic acquisitions for the world's digital infrastructure company.
Following the announcement of intent to acquire MainOne in December 2021, Equinix recently announced expansions in South America with its intended acquisition of three Entel data centers to accelerate digital transformation opportunities for local businesses and multinational companies. Both acquisitions followed announcements to acquire 13 Bell data centers in Canada and two highly interconnected data centers in Mumbai through the acquisition of GPX India in October 2020 and September 2021, respectively.
MainOne will operate under a new brand that will henceforth be known as “MainOne, an Equinix company.” Founder and CEO, Funke Opeke will continue to lead under the new brand.
— By Tefo Mohapi