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Ireland-based subsea cable operator announces strategic investment and collaboration with UAE investment firm to fund future expansion.

Aquavint Invests in Sea Fibre

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Light Reading
1/17/2014
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DUBLIN -- Sea Fibre Networks (SFN), owner and operator of Europe's most advanced sub-sea telecoms network, CeltixConnect, today confirmed that Aqua Ventures International (Aquavint), a United Arab Emirates based investment holdings firm with a portfolio of investments in Telecommunications, Media and Technology has made a significant strategic investment into SFN. This investment focuses on developing the business - extending the network footprint, expanding the product portfolio and positioning SFN to meet the burgeoning demands for fibre-based, diverse, low latency, high bandwidth infrastructure solutions on a pan-European scale.

Diane Hodnett, SFN CEO, said; "Our vision for Sea Fibre Networks has always been to develop and grow the company while maintaining a niche carrier neutral position amongst sub-sea telecom providers. Aquavint's investment reaffirms SFN's strategy and positions the Company to achieve its potential through the development of the existing product portfolio and future network expansion. This is an exciting progression in SFN's evolution and we are delighted with Aquavint's involvement."

Nicholas Hegarty, CEO, Fius Capital, Paul Davies, General Counsel, Fius Capital and Alan Clarke, previously of TE Connectivity, join Diane Hodnett on the Board of Directors. These appointments will support and accelerate SFN's on-going fundraising and corporate development. The investment amount and terms remain confidential.

Sea Fibre Networks Ltd.

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DOShea
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DOShea,
User Rank: Blogger
1/18/2014 | 4:53:44 PM
Subsea cable funding
Funding for new subsea projects really appears to be rise recently, with Sea Fibre and Ocean Networks among the winners, and I believe Seaborn expected to have some financing news soon, too. Maybe some similar news will break this week at PTC 2014 in Hawaii.
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