Equinix, the world’s digital infrastructure company, has announced its expansion into Africa through its intended acquisition of MainOne, a leading West African data center and connectivity solutions provider, with presence in Nigeria, Ghana and Côte d’Ivoire.
The acquisition is expected to close Q1 of 2022, subject to the satisfaction of customary closing conditions including the requisite regulatory approvals. The transaction has an enterprise value of $320 million and is expected to be AFFO accretive upon close, excluding integration costs, marking the first step in Equinix’s long-term strategy to become a leading African carrier neutral digital infrastructure company.
With more than 200 million people, Nigeria is Africa’s largest economy and, along with Ghana, has become an established data center hub. This makes the acquisition a pivotal entry point for Equinix into the continent.Founded 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 CEO of MainOne, Funke Opeke, will continue to serve in their respective roles. Opeke holds a master’s in engineering from Columbia University and was named one of the World’s Top 50 Women in Tech by Forbes in 2018 for her efforts in sparking internet adoption. She was also recently named one of the Top 10 Women to Watch in the Data Center Industry by Data Centre Magazine.
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