Subsea cable owner/operator Global Cloud Xchange (GCX) has been definitely acquired by investment company 3i Infrastructure for $512 million. 3i Infrastructure announced its intention to acquire a 100% stake in GCX in November 2021.
High-bandwidth connectivity as well as global managed network services, such as managed ICT, cyber security, and UCaaS solutions, are provided by GCX to a variety of blue-chip clients throughout the world, including hyperscalers, telecoms operators, new media providers, and enterprises.
From North America to Asia, GCX’s 66,000 km of cables pass through 46 nations, having a prominent presence on the Europe-Asia and intra-Asia lines. With the management team of GCX, 3i Infrastructure is investing in a leading platform for the industry with the intention of expanding GCX’s current routes, adding new services, and attracting new clients.
Managed Network Services
Global managed network services are in high demand because to rising need for digital transformation, with growth projections of over 10 percent annually, stated 3i. The acquisition of GCX by 3i would allow for more strategic investments in systems and services that will provide value for clients in the future. After formally emerging from bankruptcy on December 31, 2020, in July 2022, GCX announced strong cash flow and steady linear growth, supporting increasing needs for fiber optic interconnectivity in both established hubs and emerging markets across its world-leading privately owned submarine networks.
“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, Chief Executive Officer (CEO) at GCX. “Our global teams continue to create innovative solutions to help customers grow with us.”
Through targeted subsea network capacity and a variety of route offers in fast-growing regions, GCX enables new media providers, telecom carriers, and enterprises to take advantage of growth prospects and enhance resilience. The company’s network capabilities are supported by a team of industry experts providing consultative solutions, managed ICT, cybersecurity, and UCaaS services to some of the world’s most notable brands.
“GCX represents a great addition to the 3i Infrastructure portfolio,” said Scott Moseley, 3i Managing Partner and Co-Head of European Infrastructure. “The company holds a valuable leadership position in an attractive and growing sector and we look forward to working with Carl Grivner and his experienced management team to continue GCX’s growth.”