Business

Medallion CEO hails Digital Realty’s acquisition of Teraco

The Chief Executive Officer of Medallion Data Centre Limited, Engr. Ikechukwu Nnamani, has commended Digital Reality’s acquisition of a controlling stake in Africa’s largest datacentre operator, Teraco Data Environments of South Africa. According to him, the acquisition of Teraco at a $3.5 billion valuation represents the biggest datacentre transaction in the continent. Recall that in October 2021 the Austin Texas, USA-based Digital Realty also announced the acquisition of the data centre assets of Medallion Communications Limited in Nigeria. That marked the first time a global pure real estate investment trust (REIT) will be entering the country and beats rivals including Equinix, CyrusOne, and CoreSite Realty on entrance into the market. With the additional acquisition of Teraco, Digital Realty now controls the two most important data center assets in the continent. The Medallion Datacentre is the number one peering and connectivity datacentre in Nigeria and Teraco represents the same in South Africa, two of the largest economies in the continent.

The combination of Teraco’s leading position in South Africa with Digital Realty’s leading connectivity hubs in Nigeria on the west and Kenya on the east coast – along with Digital Realty’s strategic Mediterranean interconnection hubs in Marseille and Athens – is expected to significantly strengthen Digital Realty’s leading pan-African position, enhancing the ability to serve local as well as multinational enterprises and service providers. Speaking on the development, Engr. Nnamani stated that the investment in Teraco was a further testament to the fact that Digital Realty is fully committed to growing the digital economy in, not only Nigeria and the West African sub-region, but also the whole of Africa.

This, he said, would lead to significant foreign direct investment into the economy, boosting the GDP of the African countries, creating employment, and improving the quality of the lives of the citizens in the areas of education, healthcare, e-commerce, entertainment, security, governance, and agriculture amongst others. With the ongoing digitisation of the economy and implementation of Internet of Things services, data centers are essential to support these emerging services. Digital Realty is the largest global provider of cloud- and carrier- neutral datacentres, colocation, and interconnection solutions. Digital Realty supports the world’s leading enterprises and service providers by delivering the full spectrum of the datacentre, colocation, and interconnection solutions.

 

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