Funke Opeke’s MainOne acquired by Equinix for $320m

Equinix Incorporated has announced that it is acquiring MainOne in a $320m deal that is set to be sealed in the first quarter of 2022, TopNaija can confirm.

According to Equinix, the acquisition is its way of expanding into Africa since MainOne has a presence in Nigeria, Ghana, and Côte d’Ivoire.

The company added that the deal was still subject to the satisfaction of customary closing conditions including the requisite regulatory approvals.

The company said, “The transaction has an enterprise value of $320m and is expected to be AFFO 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.

President and Chief Executive Officer, Equinix, 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 Founder and CEO, MainOne, Funke Opeke, said, “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. With similar values and culture to what we have jointly built in twelve years, Equinix is the preferred partner for our growth journey.

After moving back to Nigeria, Funke Opeke started MainOne in 2008, when she noticed the poor internet connectivity in Nigeria. MainOne is West Africa’s leading communication services and network solutions provider.

The company built West Africa’s first privately owned, open access 7,000-kilometer undersea high capacity cable submarine stretching from Portugal to West Africa with landings along the route in Accra (Ghana), Dakar (Senegal) in 2019, Abidjan (Côte d’Ivoire) in 2019 and Lagos (Nigeria).