Leading telecom service provider, MainOne is reportedly set to be acquired by United States giant, Equinix Inc. The deal which is estimated to be around $320 million was announced by the American multinational company in a statement on Tuesday.
Funke Opeke who is the founder of MainOne and a Nigerian born engineer has grown the brand with a presence in Nigeria, Ghana, and Côte d’Ivoire.
MainOne was founded in 2010 and the all-cash transaction is expected to close in the first quarter of 2023, subject to the satisfaction of customary closing conditions including the requisite regulatory approvals.
The management of the organization will continue to operate in their respective roles under the agreement, including the CEO.
“The MainOne team is excited about the partnership created through the acquisition,” Funke Opeke said in the statement. “With similar values and culture to what we have built in 12 years, Equinix is the preferred partner for our growth journey and will accelerate our long-term vision to grow digital infrastructure investments across Africa.”
MainOne also owns digital infrastructure assets including three operational data centres with a facility currently under construction expected to be opened in the first quarter of 2022.
They also own and operate an extensive submarine network extending 7,000 kilometres from Portugal to Lagos, Accra, and along the West African coast, with landing stations in Nigeria, Côte d’Ivoire, and Ghana.
These provide connectivity from Africa to Europe and major Nigerian business communities.