Equinix is acquiring Nigeria’s MainOne for $320M as it expands into Africa – TechCrunch


Equinix announced today that it will acquire MainOne, a West African data center and connectivity solution provider based in Nigeria, Ghana and Côte d’Ivoire, for $ 320 million.

The acquisition is expected to close in the first quarter of 2022, subject to “satisfaction with customary closing conditions, including required regulatory approval.”

Equinix’s acquisition of MainOne is a series of global digital infrastructure players expanding to India with the acquisition of GPX India for $ 161 million last year and 13 data centers from Bel Canada for $ 780 million. It follows the movement of.

In a statement, Equinix acknowledged that the acquisition of MainOne is the first step in its long-term strategy to become a career-neutral digital infrastructure company in Africa.

“Nigeria, with a population of over 200 million, is Africa’s largest economy and, along with Ghana, an established data center hub, making the acquisition an important gateway to the continent of Equinix.” The company said in a statement.

Funke Opeke launched MainOne in 2010 after noticing the poor internet connection that Nigerians had to deal with when they returned from the United States to West Africa.

Armed with over $ 300 million in investment, Opeke built Main One as West Africa’s first privately owned open-access submarine high-capacity cable submarine. A 7,000-kilometer cable that runs from Portugal to West Africa, landing along Accra in Ghana, Dakar in Senegal, Abidjan in Côte d’Ivoire, and Lagos in Nigeria.

MainOne also has a reliable terrestrial fiber network of 1,200 kilometers in the states of Lagos, Ed and Ogun in southern Nigeria. Connections to the ground site span 65 PoPs (bases) in the cities of Portugal, Nigeria, Ghana and Côte d’Ivoire.

MainOne’s services are used by more than 800 business-to-business customers. They include major international technology companies, social media companies, global telecommunications operators, financial services companies, and cloud service providers.

MainOne has enabled these businesses to connect through three operational data centers and plans to open additional facilities in the first quarter of 2022. This is a move around the same time as the acquisition of Equinix.

MainOne, which has a team of 500 people, said the facility is generating about US $ 60 million in annual revenue with a purchase multiple of about 14 times EBITDA.

The closure of these facilities will add more than 64,000 square feet of space to Equinix and 570,000 square feet of land for future expansion.

Globally, Equinix has 237 data centers in 27 countries. We also provide data center and interconnection services to more than 10,000 of the world’s leading companies, including more than 50% of Fortune 500 companies.

“The acquisition of MainOne will be a key point for Platform Equinix to enter the vast and fast-growing African market. Equinix President and Chief Executive Officer Charles Meyers said in a statement that MainOne Key interconnect positions and an experienced management team represent a key asset in our desire to become a leading neutral provider of digital infrastructure in Africa.

“MainOne’s infrastructure, customer relationships, partner ecosystem, and operational capabilities extend the reach of Platform Equinix and enhance customer opportunities in Africa and around the world.”

MainOne CEO Funke Opeke and the company’s management will continue to play their respective roles after the acquisition is complete.

Opeke said the acquisition will accelerate MainOne’s long-term vision of increasing investment in digital infrastructure across Africa.

“Equinix, with the same values ​​and culture that we jointly built over the last 12 years, is a priority partner on our growth journey. The MainOne team is excited about the partnership created by the acquisition and: I’m looking forward to building the chapters together, “she said.

Equinix is acquiring Nigeria’s MainOne for $320M as it expands into Africa – TechCrunch Source link Equinix is acquiring Nigeria’s MainOne for $320M as it expands into Africa – TechCrunch

The post Equinix is acquiring Nigeria’s MainOne for $320M as it expands into Africa – TechCrunch appeared first on California News Times.

Source link


Please enter your comment!
Please enter your name here

Share post:


More like this

Winning numbers: Did somebody win the Mega Millions jackpot? – Riverside, California

Riverside, California 2022-07-06 06:24:37 – Prizes are certainly life-changing,...

This Asset “Predicts” Bitcoin’s Movement, Here’s Why

The DXY index is one of the main tools...

Court’s Decision on Hinman Emails to Arrive Soon, Jeremy Hogan

SEC has made many attempts in recent months to...

With Loopring [LRC] flashing green, is Q2’s turbulence behind it

Loopring , the zkRollup layer2 on Ethereum , which...