Strive Masiyiwa, the Zimbabwean billionaire through one of his companies Liquid Telecom’s Africa Data Centre has completed the acquisition of Standard Bank’s Jo’burg data center making it the leading Data Centre company in Africa. Africa Data Centres, part of the Liquid Telecom Group, are the region’s first and largest network of interconnected, carrier and cloud-neutral data centre facilities.
“We are forbidden from disclosing the terms of the deal through Non-Disclosure Agreements (NDA) with the seller. In buying the business, we are boosting the size and scale of Liquid’s Data Centre subsidiary known as Africa Data Centres (ADC),” said Masiyiwa.
According to Wikipedia, a data center is a building, dedicated space within a building, or a group of buildings used to house computer systems and associated components, such as telecommunications and storage systems. Since IT operations are crucial for business continuity, it generally includes redundant or backup components and infrastructure for power supply, data communication connections, environmental controls (e.g. air conditioning, fire suppression), and various security devices.
“We used a combination of equity and sold shares to existing shareholders, and also a debt to complete the financing. “In each situation, we had to make big ‘pitches to investors’. “Yes, I had to lead some of them myself, and it sometimes felt like Shark Tank, except it was tougher and each pitch takes weeks to complete,” he said.
Built for US$87 million in 2010, the location consists of two buildings that allow for up to eight data centre modules of 1,500 sq m (16,000 sq ft) each.
The previous owners, Standard Bank said they no longer needed the facility as they move to Amazon Web Services and Azure cloud.