Originally posted on Data Center POST
3i Infrastructure plc (3iN) has agreed to invest $512 Million to acquire a 100% stake in Global Cloud Xchange (GCX), a leading global data communications service provider and owner of the world’s largest private subsea fibre optic networks. 3i Infrastructure plc is an investment company which has been listed on the London Stock Exchange since 2007 and is currently in the FTSE250. With more than £2.2 Billion in assets under management, the investment in GCX adds subsea to the company’s formidable digital infrastructure portfolio.
GCX has had much success since the company emerged from its Chapter 11 position at the beginning of January 2021. Through a successful restructuring, GCX separated from the former parent company, formed an independent new entity, and hired a seasoned management team. Since then, GCX continues creating/implementing a strategy to successfully deleverage the business and remain on a firm trajectory of growth.
GCX continues to build confidence among new and existing customers by reforming deal structures and creating innovative and flexible ways to extend the service life of its global subsea assets. GCX owns the largest subsea cable network in the world with 66,000 km of cable spanning 46 countries with a particularly strong position along Europe-Asia and Intra-Asia routes. With standard subsea supplier lifespans of 25-years, a recent thorough evaluation cites at least five more years on GCX’s oldest operating systems, plus longer life at increased capacity available for the foreseeable future.
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