Nigerian based leading data center and connectivity solutions provider, MainOne has been acquired by America’s internet connectivity company, Equinix.
The acquisition, which was worth a whopping $320 million, was to assist the long-term goal of MainOne to grow digital infrastructure investment across Africa by giving the company access to Equinix’s infrastructure, which has 327 data centers across 27 countries.
While the deal was sealed last week, the acquisition is expected to close in the first quarter of 2022 pending all parties satisfying the regulatory and other conditions needed to be granted approvals.
MainOne was founded in 2010 by renowned entrepreneur, Funke Opeke. Prior to the company’s birth, internet connectivity and its infrastructure were the domain of the government and public companies, but as MainOne grew, they became the first private Nigerian company to lay a submarine cable that connected Africa to Europe through Portugal.
Funke Opeke, Founder & CEO, MainOne
Speaking about the acquisition, Opeke in a statement expressed her excitement with how the partnership would help MainOne achieve its next growth stage,
“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.”
Charles Meyers, President and CEO of Equinix also expressed that the acquisition facilitates the company’s entry into Africa’s data market which has one of the highest consumption in the world,
“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,” he added.
