Equinix (EQIX) Eyes Expansion in Africa With MainOne Buyout

Equinix (EQIX) Eyes Expansion in Africa With MainOne Buyout
This story originally appeared on Zacks

Equinix, Inc. EQIX intends to expand in Africa through the acquisition of data center and connectivity solutions provider, MainOne. The acquisition, which is expected to close in the first quarter of 2022, will mark a pivotal entry point for Equinix into the African market.

Equinix (EQIX) Eyes Expansion in Africa With MainOne Buyout – Zacks

Reflecting positive sentiments, shares of Equinix have risen 2.3% since the announcement of the news.

The acquisition seems a strategic fit for Equinixas MainOne enjoys a strong presence in Nigeria, Ghana and Côte d’Ivoire. Nigeria is Africa’s largest economy and together with Ghana, it’s become an established data center hub. MainOne offers enabled connectivity for the business community of Nigeria, and has digital infrastructure assets comprising three operational data centers. It has an additional facility under construction, which is expected to open in the first quarter 2022.

This all-cash transaction…

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