DATABASE giant Equinix Incorporated has announced that it is stepping up its presence in the West African market by acquiring MainOne the company that controls the Nigerian digital sector in a $320m deal to be sealed in the first quarter of 2022.
MainOne, which currently has a presence in Ghana and Ivory Coast, is the main player in the Nigerian database market. Equinox pointed out, however, that the deal was still subject to the satisfaction of customary closing conditions including the requisite regulatory approvals from the authorities.
Equinix president and chief executive Charles Meyers, said: “The acquisition of MainOne will represent a critical point of entry for Platform Equinix into the expansive and rapidly growing African market. The transaction has an enterprise value of $320m and is expected to be 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.
MainOne’s founder and chief executive Funke Opeke, added: “Equinix will accelerate our long-term vision to grow digital infrastructure investments across Africa. I thank our founding shareholders led by Fola Adeola, MainStreet Technologies, AFC, Paidf, FBN, Polaris and African Development Bank 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 12 years, Equinix is the preferred partner for our growth journey.”
