EXPANDING ITS PORTFOLIO INTO AFRICA
Equinix, Inc. has just announced its expansion into Africa as it plans to acquire MainOne, a Nigerian data center and connectivity solutions provider with footprints across West Africa.
Valued at US$320 Million, the transaction marks the first step in Equinix’s long-term strategy to become an African carrier neutral digital infrastructure company, gaining MainOne’s data center footprints across Nigeria, Ghana and Côte d’Ivoire.
“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,” said Charles Meyers, President and CEO of Equinix.
“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.”
Founded in 2010, MainOne boasts of digital infrastructure assets including three operational data centers, with an additional facility under construction which is expected to open in Q1 2022. MainOne also owns and operates a 7,000 kilometers subsea network from Nigeria to Portugal, as well as 1,200 kilometers of terrestrial fiber network across southern Nigeria.
“Equinix will accelerate our long-term vision to grow digital infrastructure investments across Africa. I thank our founding shareholders led by Mr. Fola Adeola, MainStreet Technologies, AFC, PAIDF, FBN, Polaris and AfDB for investing in the MainOne vision to bridge the Digital Divide in Africa. With similar values and culture to what we have jointly built in twelve years, Equinix is the preferred partner for our growth journey. The MainOne team is excited about the partnership created through the acquisition, and we look forward to building our next chapter together,” said Funke Opeke, Founder and CEO, of MainOne.
This transaction further joins Equinix’s EMEA expansion efforts with the company recently opening the first phase of its new $103 Million data center in the west of Frankfurt, Germany which delivers 4,800 square meters of data center space. Also, its new £61 million data center in Manchester, UK, is currently under construction and scheduled to open in Q2 2022.
“Expansion in Africa has long been a strategic priority for us. With MainOne, we have found a company that not only has highly complementary data center and connectivity assets, but can further accelerate the expansion of our business model and growth objectives,” said Eugene Bergen, President of Equinix, EMEA.
“CEO Funke Opeke and her team have built a powerful and dynamic infrastructure that will enable international customers access to the continent and African organizations access to the global Equinix platform. Customers can take full advantage of Equinix’s leading global interconnection services to connect with customers and partners, participate in rich digital ecosystems and expand their business across Africa and around the world.”
As announced, the acquisition transaction of MainOne is expected to close in Q1 2022, subject to customary closing conditions including the requisite regulatory approvals. Upon closing, MainOne facilities will add more than 64,000 gross square feet of data center space to Platform Equinix®, with 570,000 square feet of land for future expansions.