Equinix to Enter Africa with $350 Million MainOne Acquisition

Equinix Inc. (Nasdaq: EQIX), a global interconnection and data company, announced on Tuesday it is expanding its presence in Africa with the acquisition of MainOne, a West African data center and connectivity solutions provider.

Under the terms of the agreements, Equinix will acquire MainOne and its assets in an all-cash transaction for an enterprise value of $320 million, excluding integration costs.

The two companies are now deciding on the customary closing conditions and are expecting to close the transaction by the first quarter of 2022.

“The acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of MainOne will represent a critical point of entry for Platform Equinix into the expansive and rapidly growing African market,” said Charles Meyers, President and CEO at Equinix.

Massive Infrastructure across West Africa

MainOne has a presence in Nigeria, Ghana and Côte d'Ivoire and is one of the major digital infrastructure providers in West Africa. Additionally, the company was founded in 2010 by Funke Opeke and now has three operational data centers with an extra one expected to be added in Q1 of 2022.

The closing of this acquisition will add more than 64,000 gross square feet of space to Platform Equinix, along with 570,000 square feet of land for future expansions. Moreover, MainOne owns and operates a subsea network from Nigeria to Portugal and 1,200 kilometers of terrestrial fiber network across southern Nigeria.

“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,” Meyers added.

“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 Connectivity Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Read this Term 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.”