According to reports, the acquisition is expected to close Q1 of 2022, subject to the “satisfaction of customary closing conditions including the requisite regulatory approvals.”
It is not clear if Nigeria regulators would allow the futuristic data centre company that provides connectivity solutions in Nigeria, Ghana and the Ivory Coast.
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.
“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,” said Charles Meyers, the president and CEO of Equinix in a statement.
“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.”
“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 in the statement.
If succeeds, MainOne acquisition will follows a series of moves the global digital infrastructure player made last year when it expanded to India through the acquisition of GPX India for $161 million and acquired 13 data centres from Bell Canada for $780 million.
MainOne CEO Funke Opeke and the company’s management team will still continue to serve in their respective roles after the acquisition is finalized.
Opeke said the acquisition will accelerate MainOne’s long-term vision to grow digital infrastructure investments across Africa.
“With similar values and culture to what we have jointly built in twelve years, Equinix is the preferred partner for our growth journey. The MainOne team is excited about the partnership created through the acquisition, and we look forward to building our next chapter together,” she added.
Funke Opeke started MainOne in 2010 after noticing the poor internet connectivity Nigerians had to deal with upon her return to the West African country from the U.S.
Armed with over $200 million in equity and debt investment, Opeke built MainOne 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.