EXA Infrastructure has taken a significant step to expand its reach, signing agreements to acquire Aqua Comms, known for its expertise in subsea infrastructure across the Atlantic and Europe. Operating out of London, EXA Infrastructure, a portfolio company of I Squared Capital, boasts a vast 150,000km digital infrastructure network spanning 37 countries, including 20 subsea cable landing stations.
The acquisition of Aqua Comms will enhance EXA’s transatlantic capabilities. Aqua Comms, based in Ireland, specializes in managing submarine cable systems. It offers fiber pairs, spectrum, and wholesale network capacity to content providers, cloud entities, and carriers globally. It is a major player behind cables like America Europe Connect-1 (AEC-1) and CeltixConnect-1 (CC-1).
Jim Fagan, EXA Infrastructure’s chief executive, states, “The acquisition of Aqua Comms demonstrates EXA Infrastructure’s commitment to build a modern and diverse Transatlantic platform to fully serve AI, Cloud and Content demand, now and in the future.” This move will provide customers with expanded routes, increased capacity, and improved diversity on a larger platform.
This acquisition exemplifies the evolving landscape of the submarine cable industry, reflecting the ongoing demand for robust and diverse connectivity solutions. Financially, Akur Capital and RBC Capital Markets advise EXA on the transaction, while Paul, Weiss, Rifkind, Wharton & Garrison provide legal counsel. Meanwhile, Goldman Sachs supports D9, the seller, with Shoosmiths acting as legal advisors.
Anticipated to finalize in about 12 months, the transaction, however, remains subject to standard closing conditions. Such acquisitions illustrate a crucial strategy for companies aiming to address the burgeoning demand in the AI, cloud, and content sectors.
