Equinix Completes MainOne’s $320m Acquisition Deal

Image

By Adedapo Adesanya

Equinix Incorporated is set to bring a full range of transformative technologies and connectivity to Nigeria and other West African nations as it announced the completion of a $320 million deal to acquire West African data centre and connectivity solutions provider, MainOne.

The conclusion of this deal augments Equinix’s long-term strategy to become a leading African carrier-neutral digital infrastructure company by allowing it to extend Platform Equinix into West Africa, giving organizations based inside and outside of Africa access to global and regional markets.

The firm will have under its wing, four operational data centres, which will add more than 64,000 gross square feet of space to Platform Equinix, in addition to 570,000 square feet of land for future expansions.

It will also have an extensive submarine network extending 7,000 kilometres from Portugal to Lagos, Accra and along the West African coast, with landing stations in Nigeria, Ghana, and Côte d’Ivoire among other assets like a terrestrial network of more than 1,200 kilometres of reliable terrestrial fibre in which connects across 65 points of presence (PoPs) in cities across Portugal, Nigeria, and others.

The company will seek to bank on Nigeria’s position as both the largest population and the largest economy of any country in Africa, with approximately 142 million active internet subscribers.

It hopes to capitalise on MainOne headquarters being in Lagos, as it is rapidly becoming a key connectivity hub for the wider West Africa region. It hopes to open an additional facility this month.

Its founder, Mrs Funke Opeke, will continue to lead under the new brand of MainOne, an Equinix company working with nearly 500 employees and a management team with a deep understanding of local and international markets.

The closure of the MainOne acquisition marks the latest in a series of strategic acquisitions for the world’s digital infrastructure company after the announcement of intent to acquire MainOne in December 2021, Equinix recently announced expansions in South America with its intended acquisition of three Entel data centres to accelerate digital transformation opportunities for local businesses and multinational companies.

Both acquisitions followed announcements to acquire 13 Bell data centres in Canada and two highly interconnected data centres in Mumbai through the acquisition of GPX India in October 2020 and September 2021, respectively.

Share
Related Stories
Image
12-February-2024

IXPN Activates Point of Presence at Lagos Open Access Data Centres

By Aduragbemi Omiyale The Point of Presence (PoP) at the Open Access Data Centres of the Internet Exchange Point of Nigeria (IXPN) has been activated. With the activation at the OADC facility, IXPN is now available at seven data centres, making it the only IXP accessible from all the major data centres operating in Lagos. Also, this development now makes the services of IXPN available and accessible to all network providers, providing them with affordable services and the opportunity to connect at multiple points. The company explained that the idea behind the activation of its PoP at OADC is to

Image
08-March-2024

Trusted AI Needs Human at the Helm

By Linda Saunders AI promises to make our jobs easier, our work more productive, and our businesses more valuable. New research from Slack finds that 80% of employees using generative AI tools are experiencing a boost in productivity — and that’s just the beginning. And, with the introduction of AI assistants — including Salesforce’s own Einstein Copilot — the potential for businesses is only growing. AI assistants can already answer questions, generate content, and dynamically automate actions. And someday, these assistants will become digital sales and service agents, anticipating our needs and operating on our behalf. But with each new

Image
09-February-2024

Why Integrating Apps, Democratising Automation Should be Cornerstone of Every IT Strategy

By Linda Saunders As businesses look to transform the AI world, the demand for AI and automation tools is growing, intensifying the pressure on IT teams to deliver. This is especially true for the African continent. IT leaders across Africa are grappling to establish the governance and processes required to master the basics with widening digital skills gaps, disconnected systems, and compliance concerns among their top concerns. This is according to MuleSoft’s 2024 Connectivity Benchmark Report, which found that among 1,050 IT Leaders worldwide, 98% say they are facing challenges regarding digital transformation. 81% of IT Leaders report the persistence of

Image
28-February-2024

FG Selects Learning Community Managers for 3MTT Initiative

By Modupe Gbadeyanka The federal government has selected Learning Community Managers for the 3MTT Initiative for all 36 states of the federation and the Federal Capital Territory (FCT). The managers were picked for the programme by the Federal Ministry of Communications, Innovation & Digital Economy, which is handling the initiative. Recall that the government secured N1 billion in partnership with IHS Nigeria to support the 3MTT Learning Community. The selection of Learning Community Managers marks a significant milestone in the government’s efforts to empower Nigeria’s tech talents. These individuals will play a crucial role in managing and assisting participants in

More Stories
Image
23-December-2021

Crude Prices Bullish as US Records Another Huge Inventories Drop

By Adedapo Adesanya Crude prices were bullish on Wednesday morning as data from the Energy Information Administration (EIA) showed an inventory draw of 4.7 million barrels for the week to December 17. Brent crude gained 43 cents or 0.57 per cent to trade at $75.72 per barrel while the United States West Texas Intermediate (WTI) crude rose 36 cents or 0.49 per cent to sell at $73.12 per barrel At 423.6 million barrels, crude oil inventories remain 8 per cent below the five-year average—compared to 7 per cent below the five-year average last week. Last week’s draw adds to last

Image
24-December-2019

CMC Connect Shines at Lagos PR Industry Gala & Awards 2019

Leading perception management firm, CMC Connect, was recognized and honoured with two prestigious awards at the Lagos PR Industry & Gala Awards 2019, which recently held at Civic Centre, Victoria Island, Lagos. Themed ‘PROVATION’, the ceremony witnessed a gathering of astute industry leaders, stakeholders and corporate organizations, some of who were also recognized for their laudable feats and contributions to the PR practice and industry. CMC Connect took home the prestigious awards for the ‘Model Agency of All Time’ and ‘The Best Agency’ to work. The company was honoured with the awards for its leadership and relevance in the PR

Image
15-February-2018

European Equities Extend Gains as Investors Focus on Corporate Earnings

By Investors Hub European stocks are extending gains from the previous session on Thursday as investors took in stride the possibility of more interest rate hikes by the Federal Reserve and turned their focus back to corporate earnings. While the French CAC 40 Index has jumped by 1.4 percent, the German DAX Index is up by 0.6 percent and the U.K.?s FTSE 100 Index is up by 0.4 percent. Dutch insurer Aegon has rallied after its fourth quarter profit more than doubled due to a $554 million gain from U.S. tax reform. Engineering and consultancy company Arcadis NV has also

Image
28-August-2019

Brent, WTI Bounce Back as OPEC Basket, Bonny Light Decline Tuesday 

By Adedapo Adesanya After dropping points following earlier gains on Monday, Brent Crude and the West Texas Intermediate (WTI) futures bounced back and returned to gains on Tuesday in the global oil market. WTI crude recorded its highest recovery in two weeks to trade $54.93 per barrel after it rose by 2.14 percent equivalent to $1.29 from $53.64 Brent Crude, on the other hand, traded at $59.03 per barrel following a gain of $0.91 or 1.57 percent from $58.12 per barrel. It however wasn’t the case for the OPEC Basket and the Nigerian Bonny Light as both recorded drops further

Image
17-April-2023

Inside the Record-Breaking Powerball Win

The odds of winning minor prizes in Powerball are about 1 in 25, and more often than not, many people smile their way to the bank after a successful trial. On the other hand, the odds of winning the Powerball jackpot are set at one in 292.2 million, making it nearly impossible to win. This is why Edwin Castro’s story is so intriguing. Edwin Castro entered the Guinness Book Of  World Records on November 7, 2022, for winning the largest jackpot in a national lottery. The California resident stunned the world when he won the $2.04 billion Powerball jackpot. Never

Image
06-November-2019

Media Debates as Russia Pushes into Africa

By Kester Kenn Klomegah In an effort to get push its political and economic influence in Africa, Russia has begun identifying news outlets that could facilitate the distribution of its information products and contents (syndication of news reports) from Russian media organizations. Since the collapse of the Soviet Union, this is the first significant step on media cooperation by official authorities to address the information gap between the two regions. The primary objectives are to promote its Russia’s image more positively, overturn the negative perceptions among the public and to counteract anti-Russian propaganda mostly by western and European media in

Image
17-November-2022

Kaspersky Warns About Rise of Digital Scams at Qatar 2022 World Cup

By Adedapo Adesanya With the FIFA World Cup tournament three days away, a global cybersecurity and digital privacy company, Kaspersky, has uncovered that scammers and cybercriminals are trying to monetise football fans’ interest. Kaspersky experts analysed World Cup-related phishing websites from around the globe designed to steal users’ identifying and banking data and found fake pages offering everything from tickets or event merch to match streaming services, plus numerous giveaways and NFT scams exploiting the World Cup. The firm warned that since Qatar 2022 is only offering digital tickets, it increases the risk of fans running into malicious resources. Kaspersky

Image
26-July-2020

Interswitch Develops Payment Platform for Business Owners

By Dipo Olowookere A payment gateway solution called The Developer Console to help business owners solve issues around collection, settlement and reporting of funds has been created by Interswitch Group. The new product, which will enable seamless payments, will allow users create powerful tools and products, and provide self-service integration, giving developers the ability to access Interswitch product APIs, authentication parameters, sandbox, production keys, documentation and seamless project management. Before now, integrating with Interswitch APIs (developer console) has been relatively complex for years now, largely because of the complexity of the APIs, lack of well-defined documentation, poor developer experience, and

Ad
Ad
Recent Stories
Image
19-March-2024

Naira Trades N1,597/$1 at Official Market, N1,600/$1 at Black Market

By Adedapo Adesanya The Naira appreciated against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) segment of the currency market on Monday by 0.3 per cent or N5.41 to close at N1,597.34/$1 compared with last Friday’s value of N1,602.75/$1. It also improved its value against the Pound Sterling in the official market yesterday by N50.97 to wrap the session at N2,003/£1 compared with the preceding session’s N2,054.06/£1 and gained N41.89 against the Euro to close at N1,712.69/€1 versus N1,754.58/€1. It was observed that the supply of forex, according to data from the FMDQ Securities Exchange, slightly waned

Image
19-March-2024

Brent Jumps to $86 Per Barrel on Low Crude Exports, Stronger Demand

By Adedapo Adesanya  The price of the international crude benchmark, Brent Crude, rose by 88 cents or 1.0 per cent to $86.22 per barrel on Monday, triggered by lower crude exports from Iraq and Saudi Arabia and signs of stronger demand and economic growth in China and the US. Also, the US West Texas Intermediate (WTI) crude appreciated by $1.01 or 1.3 per cent to $82.05 per barrel, as Iraq, the second-largest producer in the Organisation of the Petroleum Exporting Countries (OPEC), said it would reduce crude exports to 3.3 million barrels a day in the coming months to compensate

Image
18-March-2024

Cardoso Begins CBN Clean-up, Removes Directors Close to Emefiele

By Aduragbemi Omiyale There are strong indications that some directors at the Central Bank of Nigeria (CBN) may have to lose their jobs in the in-house clean-up exercise by the Governor, Mr Yemi Cardoso. Reports suggest that Mr Cardoso wants to let go of some directors who worked closely with Mr Godwin Emefiele, who President Bola Tinubu believes worked to stop him from going to Aso Rock. Recall that during his electioneering campaign, Mr Tinubu accused the former CBN chief and some persons of introducing the botched Naira redesign policy to frustrate him. Immediately after he assumed office on May

Image
18-March-2024

Profit-Taking Depletes Nigerian Exchange by 0.40%

By Dipo Olowookere The Nigerian Exchange (NGX) Limited succumbed to profit-taking on Monday, shedding 0.40 per cent despite a bullish investor sentiment. The local bourse ended with 27 price gainers and 18 price losers today, implying a positive market breadth index. The selling pressure was just investors booking profit after gains in the past few trading sessions, especially in MTN Nigeria, GTCO, Zenith Bank and others. The heaviest price depreciation was recorded by McNichols, 9.30 per cent, closing at N1.17, and was trailed by DAAR Communications, which shed 8.97 per cent to 71 Kobo. UPDC declined by 7.89 per cent

Image
18-March-2024

NCC Announces 90% Restoration of Voice, Data Services After Cable Cuts

By Adedapo Adesanya The Nigerian Communication Commission (NCC) has announced that voice and data services affected by undersea cable cuts last week have been 90 per cent restored. In a series of tweets signed by Mr Reuben Muoka, the Director of Public Affairs at the commission on Monday, March 18, the NCC said, “Following the disruption on March 14, 2024, which affected data and voice services due to cuts in undersea fibre optics along the coasts of Cote d’Ivoire and Senegal, we are pleased to announce that services have now been restored to approximately 90% of their peak utilization capacities.”

Image
18-March-2024

Unity Bank, SkillPaddy to Train Female Software Engineers

By Modupe Gbadeyanka At least 1,000 female software engineers will undergo a training programme organised by SkillPaddy through its Count Her In tech programme with support from Unity Bank Plc. The IT skill development and empowerment initiative is intended to bridge talent supply gaps while providing individuals with the opportunity to meet their training goals and launch careers in the tech industry. It was disclosed that about 40 young girls will receive full sponsorship from Unity Bank in the special training initiative which was conceived as part of activities to commemorate this year’s International Women’s Day 2024. All beneficiaries of

Image
18-March-2024

Your Moods Soundtracked With Spotify’s New Daylist Feature

Throughout the day, your mood changes, and so does the music you listen to. Last night might have been an island vibes riddim Monday night, while this moment is more of a nostalgic 2010s Tuesday afternoon. The point is, that you’re ever-changing, and your playlists should be too. Say hello to daylist, your day in a playlist. This new, one-of-a-kind playlist on Spotify ebbs and flows with unique vibes, bringing together the niche music you typically listen to during particular moments in the day or on specific days of the week. It updates frequently between sunrise and sunset with a

Image
18-March-2024

Stanbic IBTC Adopts Mala Kachallah Model School, Three Others

By Modupe Gbadeyanka Mala Kachallah Model School in Maiduguri, Borno State; Methodist School Mbiafun Nkwono Ikono, Akwa Ibom State; Aramoko District School, Aramoko Ekiti State; and Magin Rafi Model Primary School Tudun Wada, Sokoto State have been adopted by Stanbic IBTC Holdings Plc. The leading financial services provider in Nigeria revamped these citadels of learning under its Adopt-a-School programme structured on the company’s Social, Environmental, and Economic (SEE) framework, which aligns with its mission to be a responsible corporate citizen. It was learned that Stanbic IBTC renovated and rebuilt classroom blocks, provided modern and conducive learning environments, furnished classrooms, established

Image
18-March-2024

Nigeria’s Data Regulator Investigates Alleged NIMC Breach

By Adedapo Adesanya The Nigeria Data Protection Commission (NDPC) is investigating allegations of unauthorised access to the personal data of enrollees in the database of the National Identity Management Commission (NIMC). This was disclosed by Mr Vincent Olatunji, the National Commissioner of the data regulation body in a statement signed by Head of Legal, Enforcement and Regulations, NPDC, Mr Babatunde Bamigboye on Monday. He said the investigation is a further regulatory measure to be taken by the commission in the wake of public concerns over reports of illegal access, to the personal data of enrollees by a shadowy entity called

Image
18-March-2024

Russia Validates Partnership with Republic of Congo

By Kestér Kenn Klomegâh Over the years, Russia and the Republic of Congo have had good bilateral relations and, undoubtedly, there are still prospects for strengthening these relations, especially in the economy and security spheres as underlined during the meeting between Vladimir Putin and Denis Sassou-Nguesso in the Kremlin. “Our countries have always had friendly relations that have been developing this way for 55 years now. Our trade is growing – by over 60 per cent – although, unfortunately, the numbers in absolute terms are still modest. But, we have good potential in several industries, such as energy, the processing