Hibernia Networks took another step away from its roots under the waves with an acquisition announcement today. They're buying Atrato IP Networks, the Dutch-based transit and Ethernet backbone.
Atrato operates a substantial footprint in both Europe and the USA, with a foothold over in Asia as well. That's not a bad description for Hibernia's global infrastructure either, but where Hibernia is mostly transport and Ethernet, Atrato operates at the IP and managed services layer.
The two companies have been working closely together for some time. In 2012 Atrato tapped Hibernia for significant intercity capacity both under the Atlantic and on land in the US. And just a few months back they again tapped Hibernia, this time in Europe for multiple 100 Gigabit Ethernet pipes. Clearly the integration won't be that big a challenge at the network layer.
The deal is another piece of the European consolidation puzzle, and bringing together Hibernia's Dublin personnel and Atrato's team in Amsterdam. Financial terms were not disclosed, but valuations in Europe have been low and Hibernia's backers at Columbia Ventures Corporation and Constellation Growth Capital are taking advantage of the opportunity to expand and diversify further from the simple submarine cable system they bought a decade ago.
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