Telecom
Equinix Acquires MainOne for $320m
Equinix Inc., the world’s digital infrastructure company™, today announced its expansion into Africa through its intended acquisition of MainOne, a leading West African data center and connectivity solutions provider, with presence in Nigeria, Ghana and Côte d’Ivoire.
The acquisition is expected to close Q1 of 2022, subject to the satisfaction of customary closing conditions including the requisite regulatory approvals.
The transaction has an enterprise value of US $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.
With more than 200 million people, Nigeria is Africa’s largest economy and, along with Ghana, has become an established data center hub. This makes the acquisition a pivotal entry point for Equinix into the continent.
Equinix believes MainOne to be one of the most exciting technology businesses to emerge from Africa. 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.
Upon closing, these facilities will add more than 64,000 gross square feet of space to Platform Equinix®, with 570,000 square feet of land for future expansions. MainOne owns and operates a subsea network from Nigeria to Portugal, as well as 1,200 kilometers of reliable terrestrial fiber network across southern Nigeria.
These are all improving connectivity to and from Europe, West African countries and the major business communities in Nigeria. When completed, 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.
Charles Meyers, President and CEO, Equinix: “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.”
Under the terms of the transaction, the management team, including CEO Funke Opeke, will continue to serve in their respective roles. Opeke holds a master’s in engineering from Columbia University and was named one of the World’s Top 50 Women in Tech by Forbes in 2018 for her efforts in sparking internet adoption. She was also recently named one of the Top 10 Women to Watch in the Data Center Industry by Data Centre Magazine.
Key Facts
– Under the terms of the agreement, Equinix intends to acquire MainOne and its assets with an all-cash transaction at an enterprise value of US$320M, which is expected to be AFFO accretive upon close, excluding integration costs. The transaction is expected to close Q1 of 2022, subject to the satisfaction of customary closing conditions including the requisite regulatory approvals.
MainOne’s assets include:
– 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.
– The facilities generate approximately US$60M annualized (Q2’21LQA) revenue with a purchase multiple of approximately 14x EBITDA.
– Globally, Platform Equinix is comprised of 237 data centers across 65 metros and 27 countries, providing data center and interconnection services for over 10,000 of the world’s leading businesses, including more than 50% of Fortune 500 companies.
John Dinsdale, Chief Analyst & Research Director, Synergy Research Group: “Africa has been the missing piece in the Equinix jigsaw, and this acquisition of MainOne will be a great first step onto the continent. The demand for data center services in Africa is strong, with Nigeria at the epicenter of exponential economic growth in West Africa.
“Nigeria is Africa’s largest country by both population and economy, and its growth drivers include rapid mobile adoption, increased data consumption from its young population, good subsea and terrestrial connectivity, and a strong enterprise market.
“This is advancing the region toward a more digitalized economy and driving data center growth and expansion to provide much-needed digital infrastructure.”
Funke Opeke, Founder and CEO, MainOne: “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. The MainOne team is excited about the partnership created through the acquisition, and we look forward to building our next chapter together.”
Eugene Bergen, President, EMEA, Equinix: “Expansion in Africa has long been a strategic priority for us. With MainOne, we have found a company that not only has highly complementary data center and connectivity assets, but can further accelerate the expansion of our business model and growth objectives.
“CEO Funke Opeke and her team have built a powerful and dynamic infrastructure that will enable international customers access to the continent and African organizations access to the global Equinix platform. Customers can take full advantage of Equinix’s leading global interconnection services to connect with customers and partners, participate in rich digital ecosystems and expand their business across Africa and around the world.”
Association of Telecommunication Companies of Nigeria (ATCON) on Monday commended the Federal Ministry of Communication, Innovation, and Digital Economy (FMCIDE) for spearheading a new initiative known as ‘Project Bridge’.
Tony Emoekpere, president, ATCON, stated in an interview with NAN in Lagos that the initiative aimed to create a robust and resilient telecommunications backbone across Nigeria.
Emoekpere stated that the project was an ambitious public-private partnership designed to connect all 36 states and Abuja, as well as LGAs, via fiber optic cables.
According to him, the initiative is not meant to replace existing infrastructure but to complement it, creating a more resilient network.
“Right now, most of the networks that we have are linear in nature. ’Just imagine, if there’s only one road from Lagos to Ibadan; if anything happens to that road, you would not get to Ibadan.
‘’This project will create alternative routes,” he said.
The ATCON boss stated that the project was modeled after the successful PPP framework in the energy sector, with the government contributing a certain percentage to the Special Purpose Vehicle and the private sector providing the remaining funding.
He stated that the project’s goal was to establish alternative, redundant connections, thereby ensuring that services remained uninterrupted even if one part of the network was compromised.
The president expressed the full support of telcos, noting that the project would enable members to deliver services more effectively in locations where infrastructure was currently a significant challenge.
“With this project, we will have multiple options,” he said.
Project BRIDGE involves building a nationwide fiber optic network to expand digital infrastructure and connectivity, rather than a physical bridge, as part of Nigeria’s National Broadband Plan.
The project is a public-private partnership ($2 billion cost) using an SPV to deploy 90,000km of fiber-optic cable to enhance education, healthcare, and the digital economy.
MTN Nigeria has successfully completed a scheduled network maintenance operation that affected 101 sites across 15 Local Government Areas (LGAs) in Adamawa, Borno, and Kano States.
The restoration marks a significant step in the company’s ongoing efforts to enhance service reliability in the Northeast region, amidst multiple fibre cuts and vandalism.
The maintenance, which took place on Sunday, August 24, involved the cutover of traffic to a newly installed fiber span along the AFCOT–Bawo Village route in Adamawa State.
This upgrade was necessary to replace a previously damaged section of the network infrastructure. All service maintenance was done within timeframe and restorations before 1 PM on Sunday August 24th.
We can confirm that all impacted sites have been fully restored, and services are now operating normally. We appreciate our subscribers’ patience and sincerely apologize for any inconvenience caused during the downtime.
The affected services included 2G, 3G, 4G, and enterprise connectivity, with temporary disruptions experienced in LGAs such as Girei, Song, Mubi North, Hong, and Michika in Adamawa; Askira/Uba and Shani in Borno; and Nasarawa in Kano.
The work was scheduled during daylight hours to ensure the safety of field engineers, given the linear and unprotected nature of the route.
This restoration is part of MTN’s broader strategy to strengthen its infrastructure in underserved regions and ensure consistent service delivery across Nigeria, amidst constant fibre cuts and vandalism.
TikTok has launched its music insights platform, TikTok for Artists, in Nigeria to support artist growth and fan engagement across the country’s vibrant music industry.
The platform, which debuted globally earlier this year, provides artists, labels, and management teams with access to daily-updated dashboards and analytics tools to track music performance, audience demographics, and fan interactions.
Toyin Mustapha, Head of Music Partnerships for the UK, Ireland, and Sub-Saharan Africa at TikTok, said the initiative was part of the company’s commitment to empowering African creators.
“With the launch of TikTok for Artists in Nigeria, we’re giving artists and their teams access to insights that can help them engage their fans in more meaningful ways and grow their careers globally,” Mustapha said.
The platform offers detailed song performance metrics, including views, posts, and creator engagements per track. It also provides granular post-level data such as likes, comments, shares, and completion rates, alongside demographic breakdowns by gender, age, and language.
In addition to analytics, TikTok for Artists includes educational resources and step-by-step guides to help artists build sustainable careers.
A key feature of the platform is the Pre-Release tool, which allows artists to launch campaigns for upcoming albums and enables fans to pre-save tracks on streaming platforms like Spotify and Apple Music.
British artist Jordan Adetunji described the platform as a “game changer,” noting its value in helping artists and their teams plan effective campaigns.
TikTok said the rollout reaffirms its investment in Africa’s creative economy and aims to foster deeper connections between artists and fans across the continent.
The platform is now available to all certified TikTok Artist Accounts, with access also extendable to managers and label teams.
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