aku626:
I saw a buy out coming and once again a smart move by Opeke, the price though, I'd have expected mainone to be valued at over half a billion dollars. O well, well staffs should be looking for new opportunities elsewhere.

All executives and staffs are retained.

angelfallz:
Not everything is about money.

I never said everything is about money... but this one is about money..

It's like you read my mind in respect of the amount involved. I personally feel $320 million is quite small. I expected a billion dollars and above for this acquisition. I am sure if a company like Mainone were American or European company the amount involved would have been in billions.

aku626:
I saw a buy out coming and once again a smart move by Opeke, the price though, I'd have expected mainone to be valued at over half a billion dollars. O well, well staffs should be looking for new opportunities elsewhere.

Oh

Bashir75:



NIGERIA, AS AN ENTERPRISE NATION, SHOULD BE BUYING AND CONTROLLING A HIGH STAKE IN MAIN-ONE. THE COMPANY IS NOT JUST A MERE DATA COLLECTOR SUCH AS FACEBOOK, TWITTER, OR INSTAGRAM. THE COMPANY IS A STRATEGIC DATA CENTER THAT WAREHOUSED OUR NATIONAL DATA. IT’S CONNECTED TO OUR BANKS, TELECOMS, IMMIGRATION, SECURITY AGENCIES, NATIONAL DATA SYSTEMS, MINISTRIES, AND OTHER AGENCIES OF GOVERNMENT.

THE AMERICAN COMPANY KNEW WELL WHAT THEY WERE BUYING, A NATIONAL ASSET. IN THE AGE OF TAMPERING AND CYBER INSECURITIES, NIGERIA GOVT SHOULD BE BUYING THIS COMPANY FOR NATIONAL STRATEGIC PURPOSES, ESPECIALLY ITS CONNECTION TO WEST AFRICA COUNTRIES. I KNOW WELL PRIVATE COMPANY WANTS TO CASH-OUT AND MAKE MORE MONEY FOR OTHER BUSINESS VENTURES, BUT DATA WILL NOT ONLY BE CURRENCIES OF THE FUTURE BUT A TARGET OF WAR-FARE TO CRUMBLE ENEMIES SECURITY- INFRASTRUCTURES.

Very very valid points that you stated sir. But from experience government has never been good at managing any national assets.

National Airline- 0
NITEL - 0
NEPA- 0
National Theatre - 0
NIPOST - 0

And other nationwide assets...

BigBashiru:


You talk like an illiterate. The company has been SOLD for $320m in cash as the news stated. This means no more returns to the original owners.....This means that ownership has changed hands.... and this means US grip on Nigeria has strengthened....

You are wrong. Firstly, the terms of reference for the acquisition of MainOne is not fully spelt out. The process has only begun and subject to regulatory approvals. Secondly, from Funke Opeke's statement, the acquisition is beneficial to MainOne Nigeria. Equinix is a global technology company. They are bringing funds and technology to the company which will benefit Nigerians and stakeholders.

Funke Opeke is just the CEO. Fola Adeola is the founder of MainOne. Equinix acquisition of MainOne is very good. Remunerations, condition of service, foreign experts and technologies would be brought into the company.

At $320 million, except the company is having problem, that amount is too small. NCC, NSE and other stakeholders will also have inputs to the real worth of the company and conditions behind the acquisitions.

Distilling from comments here - informed or not - I would opine that a company such as MainOne should in the future, be designated something in the ilk of Companies Strategic to Preserving National Security, CSPNS.

For the mere fact that a horde of Nigerian banking institutions and other sensitive agencies rely on their channels for data traffic, encrypted or not, is to me, enough impetus for a governmental bailout where VC funding, an IPO (if feasible), or closely vetted merger (not full blown acquisition), is not agreeable.

No, MainOne isn’t exactly a data mining venture like Facebook etc but is still a potential treasure trove for foreign parties interested in undermining national security. This may be through hacking or other disruptive means, nonetheless, the consequences could be grace.

Just imagine China allowing Facebook to acquire TikTok.

You tink say na beans make US clamp down on ByteDance (TikTok). They understand these fundamentals, and beyond.

advanceDNA:


Guy...320 million dollars is not a bad sale...

It's when you compare the potential of the company.

Mobile apps in America are selling for billions of dollars.

They just don't rate us.

It is like when you give a child N10 in 5 places after collecting N1000 note from him.

CSTRR:

It's when you compare the potential of the company.

Mobile apps in America are selling for billions of dollars.

They just don't rate us.

It is like when you give a child N10 in 5 places after collecting N1000 note from him.

U want to compare US market with this place,

In US and better countries, you can make 10 year projection of a business based on close to stable market forces and security...

Here, the buyers are making a huge risk...
Nigeria’s market is totally unpredictable...but u want them to pay billions... I hear you..

The person selling seff knows why she sold it.

advanceDNA:



U want to compare US market with this place,

In US and better countries, you can make 10 year projection of a business based on close to stable market forces and security...

Here, the buyers are making a huge risk...
Nigeria’s market is totally unpredictable...but u want them to pay billions... I hear you..

The person selling seff knows why she sold it.

You are probably right.

The buhari economic environment is not it at all.

140b naira

That is a good business. Thank God for you.

angelfallz:
Actually it is you who is not wise.

your point please

Funke mentioned in an interview that the shareholders wanted out and sold their shares to Equinox.

The slow economy, exchange rate also impacted the deal. So this appears as a win-win so far.

LaconicINC:
my thought exactly when I saw the headline, maybe they are having financial difficulty, hence they are selling that low, Buhari has changed the economic atmosphere negatively you know.

O boy, Omo Yoruba atata congratulations

PS712:
Proud of her for this great achievement.
A product of a great, warm, intelligent and goal driven family.
Her parents gave us as corps members free and furnished accommodation throughout our NYSC service year, even when none of us is Yoruba, I, my colleagues and our families remain eternally grateful to that family. We won't ever forget them and plan to return to that community, to immortalize Prof. (her dad) of blessed memory!

Which community is that sir?

nisai:
Which community is that sir?

Ile-Oluji, Ondo State.

PS712:

Ile-Oluji, Ondo State.

Thanks.