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Digital Realty to acquire Teraco to bring global content closer to the digital edge in Africa

Categories Edge Computing News  |  Real Estate
Digital Realty to acquire Teraco to bring global content closer to the digital edge in Africa

Data centers, connectivity, and cloud services provider Digital Realty announced it has entered into a definitive agreement to acquire a majority stake in African carrier-neutral colocation provider Teraco.

The transaction was valued at approximately $3.5 billion and will be financed through a combination of proceeds from Digital Realty’s private capital and capital recycling initiatives.

“This highly strategic transaction immediately cements Digital Realty as the leading colocation and interconnection provider in Africa, a region experiencing a rapid digital transformation,” explained Digital Realty Chief Executive Officer A. William Stein.

The move effectively establishes Digital Realty’s presence as a colocation and interconnection provider in Africa, as Teraco counts seven facilities in South Africa serving over 600 customers. The facilities house over 275 connectivity providers, more than 25 cloud and content platforms, and roughly 300 enterprises.

“This investment will enhance our ability to serve customers on a global basis by adding significant regional scale with a premier, network-dense portfolio in South Africa’s most strategically important metros,” Stein said.

In addition, the company said Teraco’s position in South Africa and Digital Realty’s connectivity hubs in Nigeria on the west and Kenya on the east coast is expected to significantly strengthen Digital Realty’s pan-African position.

“Our combined platform will be uniquely positioned to serve the full customer spectrum with the ability to support their growth around the world,” said Teraco Chief Executive Officer Jan Hnizdo.

The transaction comes weeks after Equinix acquired MainOne and months after Liquid Intelligent Technologies and Unitas Global had signed a strategic partnership agreement to create Africa’s largest network of interconnected data centers, both deals showing a growing interest of global companies to build enterprise-grade clouds in the continent.

Following the network expansion, connected data-center providers will include Africa Data Centres, Teraco, and iColo.

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