Global Cloud Xchange (GCX) announced the completion of 3i Infrastructure plc’s $512 million acquisition of GCX, a global data communications service provider and owner of a large private subsea fiber optic network. The transaction closed with the help of advisors, Moelis & Company, and followed receipt of all required regulatory approvals.
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 strong position on the Europe-Asia and Intra-Asia routes.
3i Infrastructure is partnering with GCX’s management team to invest in a 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.
During this period, global data traffic demand growth continues to exceed 25 percent per annum. At the same time, increasing demand for digital transformation is driving demand for global managed network services, with growth estimates approaching 10 percent per year. 3i’s acquisition of GCX will enable additional strategic investment in systems and services.
“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.”
For more information, visit www.globalcloudxchange.com