Sea Fibre Networks (SFN), which owns and operates the CeltixConnect submarine network that runs from Ireland to Wales says it has received funding from Aqua Ventures International (Aquavint), an investment holdings firm based in the United Arab Emirates (UAE). SFN did not reveal the amount of the investment, but described it as “significant.”
SFN has used CeltixConnect as the centerpiece of a fiber-optic network footprint that extends to the European mainland (see, for example, “Sea Fibre Networks adds Paris fiber network route”). The new funding will go toward further extension of the network’s footprint, expansion of the product portfolio, and positioning SFN to meet increasing customer demands on a pan-European scale, the company says.
“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,” said SFN CEO Diane Hodnett. “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.”
Aquavint’s portfolio includes investments in telecommunications, media, and technology companies. “Aquavint has a special interest in the sub-sea telecoms market,” asserted Jacob Logothetis, managing director at Aquavint. “We like SFN’s carrier neutral proposition and are impressed by the team’s achievements in the market to date. Going forward, I see real value in SFN’s infrastructure in conjunction with Aquavint’s related portfolio investments.”
Meanwhile, Nicholas Hegarty, CEO of Dubai-based Fius Capital; Paul Davies, general counsel, Fius Capital; and Alan Clarke, previously of TE Connectivity, has joined Hodnett on SFN’s board of directors.
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