Global Cloud Xchange (“GCX”) is a leading global data communications service provider and owner of one of the world’s largest private subsea fibre optic networks. The business provides high-bandwidth connectivity to a range of customers including over-the-top content providers, telecom carriers, new media providers and enterprises.
GCX’s 66,000km of cables span from North America to Asia. It is particularly strong on the Europe-Asia and Intra-Asia routes where it is well positioned to capitalise on growth opportunities and serve the exponentially growing demand for data traffic.
The business is performing in line with expectations; lease revenues have grown strongly as the business prioritises recurring revenues over one-off cash IRU sales.
GCX is currently examining several opportunities to invest in new cables in the Middle East which would provide synergies with its existing network.
This transaction involved a recommendation of 3i Investments plc.