Funke Opeke’s MainOne set to be acquired for $320m by US giant Equinix

Funke Opeke’s MainOne set to be acquired for $320m by US giant Equinix

MainOne, a West African information centre and connection options service provider with an existence in Nigeria, Ghana, and Côte d’Ivoire is set to be obtained for $320 million by American international Equinix Inc., the United States business stated in a declaration Tuesday.

The all-cash deal is anticipated to close in the very first quarter of next year, based on the fulfillment of traditional closing conditions consisting of the requisite regulative approvals.

Established by Funke Opeke in 2010, MainOne is a crucial supplier of business connection services, with an approximated 800 business-to-business consumers. These consist of significant worldwide innovation business, social networks business, worldwide telecom operators, monetary service business, and cloud provider.

The business owns and runs a comprehensive 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. These offer connection to and from Europe, West African nations, and the significant company neighborhoods in Nigeria.

MainOne likewise owns digital facilities properties that consist of 3 functional information centers, with an extra center under building and construction anticipated to open in Q12022 These remain in addition to crucial web exchanges making it possible for low latency to essential international networks, consisting of Amazon, Microsoft, Apple, Google, and Facebook.

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Under the regards to the arrangement, the management group, consisting of CEO Opeke, will continue to serve in their particular functions.

” The MainOne group is thrilled about the collaboration produced through the acquisition,” Opeke stated in the declaration. “With comparable worths and culture to what we have actually integrated in 12 years, Equinix is the favored partner for our development journey and will accelerate our long-lasting vision to grow digital facilities financial investments throughout Africa.”

For Equinix, an international expert in information centres and web connection, the offer marks the primary step in a long-lasting method to end up being a leading supplier of digital facilities in Africa.

Equinix thinks MainOne to be among the most interesting innovation companies to emerge from Africa, making the acquisition an essential entry point for the United States business into the continent.

” Growth in Africa has actually long been a tactical concern for us. With MainOne, we have actually discovered a business that not just has extremely complementary information center and connection properties however can even more speed up the growth of our service design and development goals,” stated Eugene Bergen, EMEA President at Equinix.

Equinix’s information centres all over the world.

Provided the substantial supply space in digital facilities in sub-Saharan Africa, Ayobami Omole, a Lagos-based telecom expert at Tellimer, anticipates more of such deals in the coming years. “Offers like the MainOne acquisition will keep drawing foreign financiers’ attention to the area,” Omole informed TechCabal over the phone.

The UN International Telecommunication Union (ITU) approximates SSA is house to roughly 700 countless the world’s 3.7 billion individuals without access to the web. More so, readily available facilities in the area is hardly enough for the existing web users.

” With increasing web traffic, smart device penetration, and digitisation, we can just anticipate need for cloud services and digital facilities to increase with foreign gamers seeking to plug that space,” Omole included.

Internationally, Platform Equinix is consisted of 237 information centres throughout 65 cities and 27 nations, supplying information centre and affiliation services for over 10,000 organizations, consisting of more than 50%of Fortune 500 business. When finished, the acquisition will extend Platform Equinix into West Africa.

” MainOne’s leading affiliation position and knowledgeable management group represent important properties in our goals to be the leading neutral supplier of digital facilities in Africa,” included Charles Meyers, President and CEO of Equinix.

MainOne’s founding investors consist of Nigerian entrepreneur and creator of Warranty Trust Bank, Fola Adeola, MainStreet Technologies, the Africa Financing Corporation (AFC), Pan African Facilities Advancement Fund (PAIDF), First Bank, Polaris Bank, and the African Advancement Bank (AfDB).

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Author: admin