Digital infrastructure company, Equinix announced its expansion plans to Africa with the acquisition of MainOne. MainOne is a West African data center and connectivity company, with a presence in Nigeria, Ghana, and Côte d’Ivoire. Equinix stated that the acquisition is expected to be closed in the first quarter of 2022, subject to the satisfaction of customary closing conditions.
$320 million transaction
According to Equinix’s announcement, the enterprise value of the transaction is $320 million and is expected to be AFFO accretive upon close. Equinix aims to be a leading African carrier neutral digital infrastructure after this first step into the continent.
MainOne, founded by Funke Opeke in 2010, will add over 64,000 gross square feet of space, with 570,000 square feet of land for future expansions to Platform Equinix. The African operator also owns and operates a subsea network from Nigeria to Portugal, 1,200 kilometers of terrestrial fiber network in South Nigeria. Charles Meyers, President and CEO of Equinix said,
« 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. »