Equinix to Acquire MainOne to Expand into Africa
Equinix, Inc., the world's digital infrastructure company, yesterday announced its acquistion of MainOne, West Africa's leading connectivity and data center solutions provider, to expand intoo Africa.
According to the official press release, this transaction is anticipated to close Q1 of 2022, subject to the satisfaction of customary closing conditions including the requisite regulatory approvals.
The transaction has an enterprise value of US $320M and is expected to be AFFO accretive upon close, excluding integration costs, marking the first step in Equinix's long-term strategy to become a leading African carrier neutral digital infrastructure company.
Under the terms of the transaction, the management team, including CEO Funke Opeke, will continue to serve in their respective roles.
Equinix believes MainOne to be one of the most exciting technology businesses to emerge from Africa. 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 under construction expected to open in Q1 2022. Upon closing, these facilities will add more than 64,000 gross square feet of space to Platform Equinix®, with 570,000 square feet of land for future expansions. When completed, this acquisition will extend Platform Equinix into West Africa, giving organizations based inside and outside of Africa access to one of the world's fastest growing markets.
As Fazzaco reported earlier, Equinix planned to build a new International Business Exchange (IBX) data center in the Agecroft Commerce Park in Salford, Manchester, UK. The new IBX—called MA5—will be Equinix's fifth data center in the Greater Manchester area and is scheduled to open in Q2 2022.
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