American firm Equinix acquires Nigeria’s MainOne in $320m deal
America’s digital infrastructure company, Equinix, has acquired Nigeria’s MainOne Cable Company.
The deal, which was sealed today, is valued a $320 million, and expected to be close in the first quarter of 2022, subject to the satisfaction of customary closing conditions including the requisite regulatory approvals.
The acquisition is also expected to enable the foray of Equinix to the African market, equally 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.