• Latest
  • Trending
Equinix targets US$320m acquisition of  Africa’s MainOne

Equinix targets US$320m acquisition of Africa’s MainOne

December 7, 2021
iOS 15.5 arrives ahead of Apple’s annual developer conference

iOS 15.5 arrives ahead of Apple’s annual developer conference

May 17, 2022
Researchers devise iPhone malware that runs even when device is turned off

Researchers devise iPhone malware that runs even when device is turned off

May 17, 2022
AMD Ryzen 7000 “Phoenix” APUs with RDNA3 Graphics to 3D V-Cache

AMD Ryzen 7000 “Phoenix” APUs with RDNA3 Graphics to 3D V-Cache

May 17, 2022
Huawei holds maiden ICT to develop 100,000 ICT Talents through LEAP in Ghana

Huawei holds maiden ICT to develop 100,000 ICT Talents through LEAP in Ghana

May 17, 2022
Nokia Moves HR Functions to Oracle Fusion Cloud HCM

Nokia Moves HR Functions to Oracle Fusion Cloud HCM

May 17, 2022
Ericsson and Turkcell Perform Turkey’s First 5G Connected Mobile Robot Demo

Ericsson and Turkcell Perform Turkey’s First 5G Connected Mobile Robot Demo

May 17, 2022
Relativity and ENSafrica to Help Expand the African Cloud Capabilities

Relativity and ENSafrica to Help Expand the African Cloud Capabilities

May 17, 2022
MTN Nigeria Adopts LigaData’s Time Machine

MTN Nigeria Adopts LigaData’s Time Machine

May 17, 2022
NVIDIA Certifies NetApp EF600 For DGX SuperPOD

NVIDIA Certifies NetApp EF600 For DGX SuperPOD

May 17, 2022
PNY Announced XLR8 DDR5-6000 MAKO RGB Memory Kits

PNY Announced XLR8 DDR5-6000 MAKO RGB Memory Kits

May 17, 2022
V-Color Manta XPrism RGB SCC DDR5-6200 CL36 2x 16 GB

V-Color Manta XPrism RGB SCC DDR5-6200 CL36 2x 16 GB

May 17, 2022
WD Announces WD Black SN850X and P40 Game Drive

WD Announces WD Black SN850X and P40 Game Drive

May 17, 2022
  • Consumer Watch
  • Kids Page
  • Directory
  • Events
  • Reviews
Tuesday, 17 May, 2022
  • Login
itechnewsonline.com
  • Home
  • Tech
  • Africa Tech
  • InfoSEC
  • Data Science
  • Data Storage
  • Business
  • Opinion
Subscription
Advertise
No Result
View All Result
itechnewsonline.com
No Result
View All Result

Equinix targets US$320m acquisition of Africa’s MainOne

by ITECHNEWS
December 7, 2021
in Africa Tech
0 0
0
Equinix targets US$320m acquisition of  Africa’s MainOne

Funke Opeke, CEO, MainOne.

Global digital infrastructure company Equinix, Inc. is gearing up to expand in Africa after announcing its intended US$320-million acquisition of West African datacentre and connectivity solutions provider MainOne.

MainOne has presence in Nigeria, Ghana and Côte d’Ivoire and in a statement, Equinox confirmed the deal is expected to close Q1 of 2022, subject to the satisfaction of customary closing conditions including the requisite regulatory approvals.

YOU MAY ALSO LIKE

Nokia Moves HR Functions to Oracle Fusion Cloud HCM

Ericsson and Turkcell Perform Turkey’s First 5G Connected Mobile Robot Demo

According to a statement released to the media, the transaction d 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. 

With more than 200 million people, Nigeria is Africa’s largest economy and, along with Ghana, has become an established datacentre hub. This makes the acquisition a pivotal entry point for Equinix into the continent. 

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 datacentres, 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. 

MainOne owns and operates a subsea network from Nigeria to Portugal, as well as 1,200 kilometers of reliable terrestrial fibre network across southern Nigeria. 

According to the companies, this acquisition will extend Platform Equinix into West Africa, “giving organisations based inside and outside of Africa access to one of the world’s fastest growing markets.”

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.”

Under the terms of the transaction, the management team, including CEO Funke Opeke, will continue to serve in their respective roles. 

The companies underline potential assets and opportunities related to the deal, including access to key internet exchanges enabling low latency to key global networks, including Amazon, Microsoft, Apple, Google and Facebook; as well as 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.

The facilities generate approximately US$60m annualised (Q2’21LQA) revenue with a purchase multiple of approximately 14x EBITDA. 

Globally, Platform Equinix is comprised of 237 datacentres across 65 metros and 27 countries, providing datacentre and interconnection services for over 10,000 businesses.

John Dinsdale, Chief Analyst & Research Director, Synergy Research Group, said, “Africa has been the missing piece in the Equinix jigsaw, and this acquisition of MainOne will be a great first step onto the continent. The demand for datacentre services in Africa is strong, with Nigeria at the epicentre of exponential economic growth in West Africa. Nigeria is Africa’s largest country by both population and economy, and its growth drivers include rapid mobile adoption, increased data consumption from its young population, good sub-sea and terrestrial connectivity, and a strong enterprise market. This is advancing the region toward a more digitalised economy and driving datacentre growth and expansion to provide much-needed digital infrastructure.”

Opeke added: “Equinix will accelerate our long-term vision to grow digital infrastructure investments across Africa. I thank our founding shareholders led by Mr. Fola Adeola, MainStreet Technologies, AFC, PAIDF, FBN, Polaris and AfDB for investing in the MainOne vision to bridge the Digital Divide in 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.”

Eugene Bergen, President, EMEA, Equinix: “Expansion in Africa has long been a strategic priority for us. With MainOne, we have found a company that not only has highly complementary datacentre and connectivity assets, but can further accelerate the expansion of our business model and growth objectives. CEO Funke Opeke and her team have built a powerful and dynamic infrastructure that will enable international customers access to the continent and African organisations access to the global Equinix platform.”

By ITWeb

ShareTweetShare

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe

Search

No Result
View All Result

Recent News

iOS 15.5 arrives ahead of Apple’s annual developer conference

iOS 15.5 arrives ahead of Apple’s annual developer conference

May 17, 2022
Researchers devise iPhone malware that runs even when device is turned off

Researchers devise iPhone malware that runs even when device is turned off

May 17, 2022
AMD Ryzen 7000 “Phoenix” APUs with RDNA3 Graphics to 3D V-Cache

AMD Ryzen 7000 “Phoenix” APUs with RDNA3 Graphics to 3D V-Cache

May 17, 2022

About What We Do

itechnewsonline.com

We bring you the best Premium Tech News.

Recent News With Image

iOS 15.5 arrives ahead of Apple’s annual developer conference

iOS 15.5 arrives ahead of Apple’s annual developer conference

May 17, 2022
Researchers devise iPhone malware that runs even when device is turned off

Researchers devise iPhone malware that runs even when device is turned off

May 17, 2022

Recent News

  • iOS 15.5 arrives ahead of Apple’s annual developer conference May 17, 2022
  • Researchers devise iPhone malware that runs even when device is turned off May 17, 2022
  • AMD Ryzen 7000 “Phoenix” APUs with RDNA3 Graphics to 3D V-Cache May 17, 2022
  • Huawei holds maiden ICT to develop 100,000 ICT Talents through LEAP in Ghana May 17, 2022
  • Home
  • InfoSec
  • Opinion
  • Africa Tech
  • Data Storage

© 2021 iTechNewsOnline.Com - Powered by BackUpDataSystems

No Result
View All Result
  • Home
  • Tech
  • Africa Tech
  • InfoSEC
  • Data Science
  • Data Storage
  • Business
  • Opinion

© 2021 iTechNewsOnline.Com - Powered by BackUpDataSystems

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version