Equinix Plans To Acquire Nigeria’s MainOne For $320M As It Expands Into Africa
Equinix has announced its plans to acquire MainOne, a West African data center and connectivity solutions provider in Nigeria, Ghana, and the Ivory Coast, for $320 million.
Armed with over $200 million in equity and debt investment, MainOne was built as West Africa’s first privately owned, open access undersea high capacity cable submarine.
It’s a 7,000-kilometer cable stretching from Portugal to West Africa with landings along Accra in Ghana, Dakar in Senegal, Abidjan in the Ivory Coast, and Lagos in Nigeria.
Funke Opeke launched MainOne in 2010 after noticing the poor internet connectivity in Nigeria. The revelation came upon her return to the West African country from the U.S, and now MainOne’s services are used by over 800 business-to-business customers.
In a statement, Equinix acknowledged that acquiring MainOne 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 company said.
The acquisition is expected to close in Q1 of 2022, subject to the “satisfaction of customary closing conditions including the requisite regulatory approvals.”