Apr 13, 2023 | Posted by Abdul-Rahman Oladimeji
Lion Investment Bidco, a subsidiary of a private equity firm, has acquired a majority stake in iXAfrica, a data center operator in Kenya. The transaction was completed for an undisclosed amount and marks Bidco's entry into the data center industry. XAfrica was founded in 2018 and operates data centers in Nairobi and Mombasa. The company offers services such as cloud hosting, disaster recovery, and colocation services to businesses in East Africa. The data centers are designed to meet international standards and are equipped with modern technology.
Bidco is a private equity firm that invests in companies across Africa. The firm's focus is on businesses in sectors such as healthcare, consumer goods, and financial services. The acquisition of iXAfrica is part of Bidco's strategy to invest in companies that have a strong potential for growth. The acquisition of iXAfrica will help Bidco to expand its presence in the technology sector. The data center industry is growing rapidly in Africa due to the increasing demand for cloud services and data storage. The acquisition will also help iXAfrica to access more resources and expertise to continue expanding its services in East Africa. The CEO of iXAfrica, Migs Mchunu, said that the acquisition by Bidco will help the company to accelerate its growth plans. He added that Bidco's investment in iXAfrica is a testament to the potential of the data center industry in Africa.
