Tuesday Bytes: euNetworks, Avaya, GPX, VIRTUS

Of interest this morning: a recapitalization, a re-emergence, and a couple data center expansion projects:

euNetworks has added a few new backers in a recapitalization led by its majority investors at Stonepeak. Under the terms of the deal, APG Asset Management and Investment Management Corporation of Ontario (IMCO) will invest alongside a Stonepeak managed vehicle. The deal comes, not coincidentally, as euNetworks closes its purchase of the dark fiber business of a Belgian utility company.

Avaya has officially emerged from its pre-packaged Chapter 11 bankruptcy process. The cloud communications and collaboration provider, which was originally spun off from Lucent back in the day, began the process back in February. It’s new financial structure features $650M in liquidity and a net leverage ration below 1x. The company has named a new 9-director board.

GPX has announced plans to expand its data center footprint in the Egyptian capital of Cairo. The plans call for another 12MW of power and 9,000 square meters of space at their Cairo 2 facility. That will essentially quadruple the company’s footprint in Cairo, and prepresents an investment of EGP2.7B, or about $87.4M. If all goes well, the first phase will be ready in Q1/2025.

And VIRTUS is taking its data center business over the North Sea to Germany, reaching outside the UK for the first time. They plan to construct a data center campus in Berlin. VIRTUS BERLIN1 will go live in 2026 and will be located in the Marienpark Berlin innovation park. Plans call for an eventual 4 buildings and 90MVA of incoming power. The real estate development company Investa will help VIRTUS enter the new market.

 

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Categories: Cloud Computing · Datacenter · Fiber Networks · Financials · Unified Communications