3i acquisition of GCX could boost subsea connectivity for Asia and the Middle East

Investor 3i Infrastructure has completed a $512 million investment to acquire a 100% stake in Global Cloud Xchange (GCX), a leading global data communications service provider and owner of the world’s largest private subsea fibre optic networks.

GCX says it 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.

GCX adds that it cover all aspects of cloud-centric connectivity from managed SD-WAN and hybrid networks, to direct cloud connections and 100 Gbps+ waves, providing connectivity throughout Europe, the Middle East, Asia and North America via the GCX subsea network.

In fact its 66,000km of cables span 46 countries from North America to Asia, with a particularly strong position on the Europe-Asia and Intra-Asia routes. 3i Infrastructure says it is partnering with GCX’s management team to invest in a leading 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.

3i describes its purpose as to invest responsibly in infrastructure, delivering long-term sustainable returns to shareholders and having a positive impact on its portfolio companies and their stakeholders.

“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.

GCX plans for the Middle East were highlighted in March, when GCX enhanced access to its Middle East network through a new point of presence in the Equinix data centre in Muscat, Oman.