Investor 3i Infrastructure has completed a $512 million investment to acquire a 100 percent stake in Global Cloud Xchange (GCX), a leading global provider of data communications services and owner of the world's largest privately owned submarine fiber network.
GCX provides high-bandwidth connectivity and global managed network services, including hosted ICT, cybersecurity and UCaaS solutions, to a range of blue-chip customers, including hyperscale enterprises, telecom operators, new media providers and global enterprises. It covers everything from hosted SD-WAN and hybrid networks to direct cloud connectivity and 100 Gbps+ waves of cloud-centric connectivity across Europe, the Middle East, Asia and North America via the GCX undersea network.
Its 66,000 km of cable spans 46 countries from North America to Asia and has a particularly strong position on intra-Eurasian and Asian routes. 3i Infrastructure said it is working with GCX's management team to invest in the industry's leading platform with the goal of increasing utilization of GCX's existing routes and adding new routes, services and customers.
3i describes its goals as investing responsibly in infrastructure, providing long-term sustainable returns for shareholders and positively impacting its portfolio companies and their stakeholders.
GCX's CEO said, "With the support of 3i Infrastructure, GCX is well positioned to support global growth and customer demand in key markets, including connectivity to India, throughout the Middle East, and enhanced managed services opportunities throughout Europe."
GCX's Middle East plans were highlighted in March when GCX enhanced access to its Middle East network with a new access point at the Equinix data center in Muscat, Oman.
