Equinix expands into Africa through $320M MainOne acquisition

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• Equinix (NASDAQ:EQIX) announced its expansion into Africa through its intended acquisition of MainOne, a West African data center and connectivity solutions provider, with presence in Nigeria, Ghana and Cote d'Ivoire.
• Founded by Funke Opeke in 2010, MainOne 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.
• 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.
• The transaction has an enterprise value of $320M and is expected to be AFFO accretive upon close, excluding integration costs.
• Under the terms of the transaction, the management team, including CEO Funke Opeke, will continue to serve in their respective roles.
• On closure, this acquisition will extend Platform Equinix into West Africa, giving organizations based inside and outside of Africa access to one of the world's fastest growing markets.
• The deal is expected to close Q1 of 2022.

Comments

[dgi123]

Relative to big tech, EQIX seems to fly under the radar. But it keeps making acquisitions and growing :D It's a great holding!