Equinix to acquire MainOne for $320m

08 Dec Equinix to acquire MainOne for $320m

Equinix Inc., US-based internet connectivity giant, has announced plans to acquire MainOne, West African connectivity and data solutions company, for $320 million.

The deal is scheduled for conclusion in the first quarter of 2022, pending the fulfilment of customary closing conditions, including the requisite regulatory approvals.

Equinix’s acquisition of MainOne follows a number of moves made by the global digital infrastructure giant last year, including the $161 million (N67bn) acquisition of GPX India and the $780 million (N324bn)  purchase of 13 data centres from Bell Canada.

MainOne is one of the most exciting technology companies to come from Africa, according to Equinix.

MainOne, founded in 2010 by Funke Opeke, has provided a connection for Nigeria’s business community and presently has digital infrastructure assets comprising three operating data centres, with an additional facility under development and due to operate in Q1 2022.

MainOne owns and runs a subsea network that stretches from Nigeria to Portugal, as well as a 1,200-kilometer terrestrial fibre network that stretches across southern Nigeria.

Upon closing, these facilities will add more than 64,000 gross square feet of space to Equinix, with 570,000 square feet of land for future expansions.

Globally, Equinix has 237 data centres across 27 countries. It also provides data centre and interconnection services for over 10,000 of the world’s leading businesses, including more than 50% of Fortune 500 companies.

MainOne was launched by Funke Opeke  in 2010. The company has enabled connectivity for the business community of Nigeria and now has digital infrastructure assets including three operational data centers, with an additional facility under construction expected to open in Q1 2022.

Under the terms of the transaction, the management team, including Opeke, MainOne’s CEO, will continue to serve in their respective roles.

In her remarks, Opeke said that Equinix would accelerate the company’s long-term vision to grow digital infrastructure investments across Africa.

“With similar values and culture to what we have jointly built-in twelve years, Equinix is the preferred partner for our growth journey,” she added.

‘’The MainOne team is excited about the partnership created through the acquisition, and we look forward to building our next chapter together.”