California-based digital infrastructure company, Equinix, has acquired Nigeria’s leading data center and connectivity solutions provider, MainOne at a whopping $320million, MainOne confirmed the acquisition.
According to the terms of the acquisition agreement, MainOne will melt into Equinix by March next year, if the parties satisfy all customary conditions, including regulatory approvals.
The terms also stipulate that the management team, including CEO, Funke Opeke, would continue to serve in their respective roles.
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 under construction expected to open in Q1 2022.
Part of the Mainone facilities and assets included in the acquisition are:
*Three operational data centers, with an additional facility under construction expected to open in Q1 2022. These facilities will add more than 64,000 gross square feet 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 PoPs (points of presence) 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
Upon finally taking over, Equinix, through these facilities will gain more than 64,000 gross square feet of space, with 570,000 square feet of land for future expansions.