Equinix is buying MainOne in Nigeria for $320 million as a part of its growth into Africa

Equinix, an organization primarily based in the USA, expands into Africa with the $320 million acquisition of Nigeria’s MainOne.

Equinix, an American digital infrastructure firm, has introduced that it’s going to pay $320 million for MainOne, a West African information heart and connectivity options supplier with places in Nigeria, Ghana, and the Ivory Coast.

The deal is anticipated to finish within the first quarter of 2022, pending the “satisfaction of regular closing circumstances, together with regulatory clearances.”

Equinix acknowledged in a press release that buying MainOne was the primary stage in its long-term plan to turn into a carrier-neutral digital infrastructure supplier in Africa.

“With over 200 million folks, Nigeria is Africa’s largest financial system and, along with Ghana, has established itself as an information heart hub,” based on the assertion. In consequence, the acquisition is a vital entry level for Equinix into Africa.”

After returning to Nigeria from the USA in 2010, Funke Opeke based MainOne after observing the poor web entry that Nigerians confronted.

She constructed MainOne, West Africa’s first privately owned, open-access undersea high-capacity cable submarine. It’s a 7,000-kilometer cable that runs from Portugal to West Africa, stopping in Accra, Ghana, Dakar, Senegal, Abidjan, Ivory Coast, and Lagos, Nigeria.

MainOne additionally operates a 1,200-kilometer terrestrial fiber community throughout Lagos, Edo, and Ogun states in southern Nigeria. 65 PoPs (factors of presence) in cities throughout Portugal, Nigeria, Ghana, and the Ivory Coast present connectivity to terrestrial places.

Over 800 business-to-business clients use MainOne’s companies. Main worldwide expertise companies, social media companies, international telecommunications operators, monetary companies companies, and cloud service suppliers are amongst them.

MainOne expects to determine a further information heart in Q1 2022, coinciding with Equinix’s acquisition, after offering connection to those companies by three operational information facilities.

MainOne, which employs 500 folks, claims that its services generate $60 million in annual income and have a purchase order a number of of 14 instances EBITDA.

“Equinox is the popular associate for our progress path as a result of our beliefs and tradition are just like what we’ve established collectively during the last twelve years.” “The MainOne staff is delighted concerning the collaboration that has been fashioned because of the acquisition, and we stay up for working collectively to write down our subsequent chapter,” she mentioned.

“The acquisition of MainOne will provide a significant level of entry for Platform Equinix into the large and fast-rising African market,” mentioned Charles Meyers, the corporate’s president. MainOne’s sturdy interconnection place and skilled administration staff are precious benefits in our quest to turn into Africa’s main impartial supplier of digital infrastructure.

“MainOne’s infrastructure, buyer relationships, associate ecosystem, and operational capability will broaden Platform Equinix’s attain and increase prospects for purchasers in Africa and around the globe,” says the corporate.

In the long term, Opeke says, the acquisition will assist MainOne lengthen its digital infrastructure investments in Africa.

 

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TymeBank, a South African Neobank, has raised $70 million in a Sequence B extension

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