US Digital Giant Equinix To Acquire Funke Opeke’s MainOne For $320M
A US digital infrastructure company, Equinix on Monday announced its expansion into Africa through its intended acquisition of MainOne, a leading West African data center and connectivity solutions provider, with a presence in Nigeria, Ghana, and Côte d’Ivoire.
The acquisition is expected to close in Q1 of 2022, subject to the satisfaction of customary closing conditions including the requisite regulatory approvals, a statement from the company said.
The deal is expected to be worth up to $320m.
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MainOne was founded by Funke Opeke in 2010, who is expected to continue as CEO after the deal is finalised.
Opeke holds a master’s in engineering from Columbia University and was named one of the World’s Top 50 Women in Tech by Forbes in 2018 for her efforts in sparking internet adoption.
She was also recently named one of the Top 10 Women to Watch in the Data Center Industry by Data Centre Magazine.
“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,” Opeke said.
“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.”
“The acquisition of MainOne will represent a critical point of entry for Platform Equinix into the expansive and rapidly growing African market,” President and CEO, Equinix, Charles Meyers, said.
“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.”