EXA Infrastructure, a London-based portfolio company of I Squared Capital, has announced its plans to acquire Aqua Comms, an Ireland-based operator of subsea cable systems. The acquisition will enhance EXA’s digital infrastructure, which spans over 150,000 km across 37 countries, including 20 cable landing stations. Aqua Comms specializes in submarine cable systems and provides fibre pairs, spectrum, and wholesale network capacity to global markets, owning key assets such as America Europe Connect-1 (AEC-1), America Europe Connect-2 (AEC-2), CeltixConnect-1 (CC-1), and CeltixConnect-2 (CC-2). Aqua Comms is also part of the consortium behind the Amitié cable system (AEC-3), which connects the U.S. with Europe.
EXA Infrastructure’s CEO, Jim Fagan, emphasized the strategic importance of the deal: “The acquisition of Aqua Comms demonstrates EXA Infrastructure’s commitment to building a modern and diverse Transatlantic platform to fully serve AI, Cloud, and Content demand, now and in the future.” The transaction, which is expected to close within 12 months, is subject to customary closing conditions and regulatory approvals.
• Key Details of the Acquisition:
• EXA Infrastructure’s Reach: Operates 150,000 km of digital infrastructure across 37 countries with 20 subsea cable landing stations.
• Aqua Comms’ Assets: Owns and operates AEC-1, AEC-2, CC-1, CC-2, and is part of the Amitié (AEC-3) consortium.
• Strategic Benefits: Enhances Transatlantic routes, increases capacity, and improves diversity for AI, Cloud, and Content markets.
• Advisors: Akur Capital, RBC Capital Markets, and Paul, Weiss, Rifkind, Wharton & Garrison advising EXA; Goldman Sachs and Shoosmiths advising D9.
• Timeline: Transaction expected to complete in approximately 12 months.
“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. The combination will offer our customers more routes, more capacity and increased diversity, all on a scaled platform” said Jim Fagan, chief executive of EXA Infrastructure.
- he America Europe Connect-2 (AEC-2) cable connects New Jersey, USA, to Killala, Ireland, and features 8 fiber pairs to deliver high-capacity, low-latency transatlantic connectivity. Entering service in 2020, AEC-2 enhances Aqua Comms’ transatlantic network by providing an additional diverse route for critical data traffic, supporting global content providers, cloud services, and enterprise connectivity.
- The Amitié cable system, which became operational in 2023, connects Lynn, Massachusetts, USA, with endpoints in Bordeaux, France, and Bude, UK. Amitié is equipped with 16 fiber pairs, offering an unprecedented capacity of over 400 Tbps. Designed to address the explosive growth in data traffic driven by AI, cloud computing, and global content delivery, Amitié is a collaborative effort involving Aqua Comms, Meta, Microsoft, and Vodafone, marking it as one of the highest-capacity transatlantic cable systems ever deployed.