Aqua Comms, which owns and operates subsea networks running from the US to Europe, is to be acquired by an investment company, Digital 9 Infrastructure (DGI9).
Last week the investment firm raised £300 million (€351.3 million) from an initial public offering on the London Stock Exchange – then agreed £157 million to acquire Aqua.
DGI9’s shares start trading on the London Stock Exchange today, after which it will complete the acquisition of Aqua Comms.
The sub-sea cable company owns and operates America Europe Connect-1 (AEC-1), America Europe Connect-2 (AEC-2), and CeltixConnect-1 (CC-1), which run between the US and Europe – specifically, the UK, Ireland, Scandinavia.
DGI9 said its goal is to build a portfolio of companies primarily related to subsea cables, data centres, terrestrial fibre, tower infrastructure and small cell networks (including 5G).
Its primary focus will be digital infrastructure investments that are operational and have customers.
Facebook says it will build two more subsea cable networks to connect the west coast of the US with South-East Asia.
To be named Echo and Bifrost, they both avoid China and will involve partners, including Indonesian companies Telin and XL Axiata, Singapore-based Keppel and Google. They are subject to regulatory approval. More information here.