Equinix to enter African market with $320m acquisition of MainOne

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

The acquisition is expected to be finalised by the second quarter of 2022 (Q2 2022), subject to the satisfaction of customary closing conditions including the requisite regulatory approvals.

In a statement on Tuesday, Equinix acknowledged that acquiring MainOne, with offices in Nigeria, Ghana, Cote D’Ivoire, is the first step in its long-term strategy to become an 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,” the statement reads.

Equinix further described MainOne as “one of the most exciting technology businesses” to emerge from Africa.

Speaking on the acquisition, Charles Meyers, president and chief executive officer (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.”

MainOne was launched by Funke Opeke (pictured) 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.”