3i Infrastructure plc completed its acquisition of Global Cloud Xchange, which operates a vast subsea network. 3i Infrastructure invested $512 million to acquire a 100% stake in GCX.
GCX provides high-bandwidth connectivity and global managed network services including managed ICT, cyber security, and UCaaS solutions, to a range of blue-chip customers inclusive of hyperscalers, telecommunications operators, new media providers and enterprises throughout the world. Its 66,000km of cables span 46 countries from North America to Asia, with a particularly strong position on the Europe-Asia and Intra-Asia routes.
3i Infrastructure said it is partnering with GCX’s management team to invest in a leading platform for the sector, with the goal to increase the utilized capacity on GCX’s existing routes as well as to add new routes, services and customers.
“With 3i Infrastructure’s backing, GCX is well-positioned to support global growth and customer needs in key markets, including connectivity to India, across the Middle East, and enhanced managed services opportunities across Europe,” said Carl Grivner, GCX CEO. “Our global teams continue to create innovative solutions to help customers grow with us.”
“GCX represents a great addition to the 3i Infrastructure portfolio,” said Scott Moseley, 3i Managing Partner and Co-Head of European Infrastructure. “The company holds a valuable leadership position in an attractive and growing sector and we look forward to working with Carl Grivner and his experienced management team to continue GCX’s growth.”
https://www.globalcloudxchange.com
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