Equinix completed its previously-announced US$320 million acquisition of MainOne, which is headquartered in Lagos, Nigeria. 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 in Lagos expected to open in April 2022.
Equinix said the deal augments its long-term strategy to become a leading African carrier-neutral digital infrastructure company.
Equinix to acquire MainOne data centers in Nigeria, Ghana, Côte d'Ivoire
Equinix agreed to acquire MainOne, a leading West African data center and connectivity solutions provider, with presence in Nigeria, Ghana, and Côte d'Ivoire, for $320 million.
MainOne's assets include:
- Three operational data centers, with an additional facility under construction expected to open in Q1 2022. These facilities will add more than 64,000 gross square feet space to Platform Equinix, in addition to 570,000 square feet of land for future expansions.
- An extensive submarine network extending 7,000 kilometers from Portugal to Lagos, Accra and along the west African coast, with landing stations in Nigeria, Ghana and Côte d'Ivoire.
- A terrestrial network of more than 1,200 kilometers of reliable terrestrial fiber in Lagos, Edo and Ogun States. Connectivity to terrestrial sites extends across 65 PoPs (points of presence) in cities across Portugal, Nigeria, Ghana and Cote d'Ivoire.
- Access to key internet exchanges enabling low latency to key global networks, including Amazon, Microsoft, Apple, Google and Facebook.
- An estimated 800+ business-to-business customers, including major international technology enterprises, social media companies, global telecommunications operators, financial service companies and cloud service providers.
- Nearly 500 employees and a management team with a deep understanding of local and international markets.
- The facilities generate approximately US$60M annualized (Q2'21LQA) revenue with a purchase multiple of approximately 14x EBITDA.
The acquisition is expected to close Q1 of 2022.
Charles Meyers, President and CEO, Equinix: "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."
Globally, Platform Equinix is comprised of 237 data centers across 65 metros and 27 countries.
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