Overview

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.

Investment rationale

In November 2021, 3i Infrastructure plc agreed to invest c.$512m to acquire a 100% stake in GCX. Additional acquisition debt was raised in March 2022, reducing 3i Infrastructure plc's equity commitment to $377m. The investment completed in September 2022.

• GCX owns one of the most comprehensive subsea cable networks globally, serving customers in over 180+ countries
• Benefits from the rapidly expanding data market with data usage forecast to grow exponentially
• Operates in a market with high barriers to entry whilst providing an essential service
• Supported by a highly experienced management team who have a strong track record in the sector

Regulatory information 
This transaction involved a recommendation of 3i Investments plc.