By Kingsley I. Ilechukwu, Correspondent Lagos

United States corporate citizen, which enables digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success as well as enables today’s businesses to access all the right places, partners, and possibilities they need to accelerate advantage and scale with agility, speed the launch of digital services, deliver world-class experiences, and multiply their value, Equinix, has made an inroad into Africa with the recent acquisition of MainOne, a leading provider of innovative telecom services and network solutions for businesses in West Africa.

Cyber Era NG learns that under the terms of the deal, the Management Team listing CEO Ms Funke Opeke, will continue to serve in their respective positions.
CEO, of Equinix, Charles Meyers said in a statement, to which Cyber Era NG is privy, that the acquisition of MainOne, with presence in Nigeria, Ghana and Côte d’Ivoire, would enable business organisations to accelerate digital transformation throughout the African continent.
Mr. Meyers said that the snapping up of MainOne was expected to round off in the first quarter of 2022, subject to the satisfaction of customary closing conditions, including the requisite regulatory approvals.
Meyers said that the transaction has an enterprise value of US$320 million and was 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.
Within business circles, AFFO accretive represents adjusted funds from operations (AFFO), a financial measure used to estimate the value of a real estate investment trust (REIT).
According to the CEO of Equinix, with more than 200 million people, Nigeria is Africa’s largest economy and, along with Ghana, has become an established data centre hub. He said that this made the acquisition of MainOne a pivotal entry point for Equinix into the continent.
“The acquisition of MainOne will represent a critical point of entry for Platform Equinix into the expansive and rapidly growing African market.
“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,” Meyers said.
Ms Funke Opeke, Founder and CEO, MainOne, said that Equinix would accelerate the company’s long-term vision to grow digital infrastructure investments across Africa.
Opeke appreciated the founding shareholders led by Fola Adeola, MainStreet Technologies, AFC, PAIDF, FBN, Polaris and AfDB for investing in the MainOne vision to bridge the Digital Divide in Africa.
“The MainOne team is excited about the partnership created through the acquisition, and we look forward to building our next chapter together.”
Speaking further, Ms Opeke stated that the founding shareholders were exiting and equally smiling to the banks having stood solidly a profitable company that MainOne represented.