There has been a significant fiber M&A in the North Atlantic. The pan-European network operator EXA Infrastructure has agreed to acquire Ireland-based Aqua Comms. It’s a rare example of the inorganic purchase of a nearly pure play subsea cable business.
Aqua Comms owns three transatlantic cable systems (AEC-1, AEC-2, AEC-3), two cable systems across the Irish Sea (CC-1, CC-2), and is a consortium member on the Amitie cable system. Meanwhile, EXA Infrastructure already has its own subsea infrastructure. They have three transatlantic cables that derive from Hibernia, including the low latency EXA Infrastructure Express route. And more recently they built some subsea fiber in the Mediterranean as part of the Trans-Adriatic Express project.
The combination will put EXA Infrastructure in charge of some 6 transatlantic cable systems and a piece of another. If all goes well, the deal will close sometime in the next 12 months. EXA is backed by I Squared Capital. Terms of the deal were not disclosed.
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Categories: Fiber Networks · Mergers and Acquisitions · Undersea cables
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