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Equinix Enters Africa, Closing the US$320 Million Acquisition of MainOne

Acquisition signals the first step in Equinix’s long-term strategy to become a leading African carrier-neutral digital infrastructure company, enabling organizations to accelerate digital transformation throughout the continent

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MainOne
Funke Opeke, CEO of MainOne

Equinix, Inc., the world’s digital infrastructure company, today announced it has completed its deal to acquire West African data center and connectivity solutions provider, MainOne, for an enterprise value of US$320 million, marking the beginning of its expansion into the African continent.

The completed acquisition of MainOne augments Equinix’s long-term strategy to become a leading African carrier-neutral digital infrastructure company by being able to bring a full range of transformative technologies and connectivity to Nigeria, Ghana and Cote d’Ivoire.

This acquisition will extend Platform Equinix into West Africa, giving organizations based inside and outside of Africa access to global and regional markets. Nigeria has both the largest population and the largest economy of any country in Africa, with approximately 142 million active internet subscribers. Home to new innovative digital ecosystems in fintech and content and digital media, it has great opportunity for expansion of digital services.

Equinix believes MainOne, headquartered in Lagos, to be one of the most exciting technology businesses to emerge from Africa, and Lagos is rapidly becoming a key connectivity hub for the wider West Africa region. 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 in Lagos expected to open in April 2022.

Fast Facts

MainOne’s assets include:

  • Four operational data centers, which will add more than 64,000 gross square feet of space to Platform Equinix, in addition to 570,000 square feet of land for future expansions.
  • An extensive submarine network extending 7,000 kilometers from Portugal to Lagos, Accra and along the West African coast, with landing stations in Nigeria, Ghana and Côte d’Ivoire.
  • A terrestrial network of more than 1,200 kilometers of reliable terrestrial fiber   in Lagos, Edo and Ogun States. Connectivity to terrestrial sites extends across 65 points of presence (PoPs) in cities across Portugal, Nigeria, Ghana and Cote d’Ivoire.
  • Access to key internet exchanges enabling low latency to key global networks, including Amazon, Microsoft, Apple, Google and Facebook.
  • 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.
  • Nearly 500 employees and a management team with a deep understanding of local and international markets.
  • The facilities currently generate approximately US$60M annualized (Q2’21LQA) revenue with a purchase multiple of approximately 14x EBITDA.
  • MainOne will operate under a new brand “MainOne, an Equinix company”
  • Funke Opeke will continue to lead under the new brand of “MainOne, an Equinix company.”
  • Globally, Platform Equinix is comprised of 240 data centers across 66 metros and 27 countries on 6 continents, providing data center and interconnection services to  10,000+  companies  including  more than  50%  of  Fortune  500 companies.

Closure of the MainOne acquisition marks the latest in a series of strategic acquisitions for the world’s  digital  infrastructure  company.  Following  the announcement  of  intent  to  acquire MainOne in December 2021, Equinix recently announced expansions in South America with its  intended  acquisition  of  three  Entel  data  centers  to  accelerate  digital  transformation opportunities for local businesses and multinational companies.

Both acquisitions followed announcements to acquire 13 Bell data centers in Canada and two highly interconnected data centers in Mumbai through the acquisition of GPX India in October 2020 and September 2021, respectively.

​Joan Aimuengheuwa is a content writer who takes keen interest in the scopes of innovation among African startups. She thrives at meeting targets and expectations. Contact: [email protected]

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