Sea Fibre Networks secures strategic investment
17 January 2014 |
Sea Fibre Networks (SFN) has secured funding from UAE-based Aqua Ventures International (Aquavint) in order to further the subsea network operator’s business development.
Aquavint holds a portfolio of investments in telecommunications, media and technology, and hopes to help SFN to extend its network footprint in order to meet the growing demands for low-latency fibre infrastructure in Europe.
“Our vision for Sea Fibre Networks has always been to develop and grow the company, while maintaining a niche carrier neutral position amongst subsea telecom providers,” said Diane Hodnett, CEO at SFN.
“Aquavint’s investment reaffirms SFN’s strategy and positions the company to achieve its potential through the development of the existing product portfolio and future network expansion.”
It is also hoped that Aquavint’s strategic investment will expand SFN’s product portfolio. Jacob Logothetis, MD at Aquavint, said that the company has a particular interest in the subsea telecoms market.
“We like SFN’s carrier neutral proposition and are impressed by the team’s achievements in the market to date,” Logothetis said.
“Going forward, I see real value in SFN’s infrastructure in conjunction with Aquavint’s related portfolio investments.”
The amount invested, as well as the terms and conditions, remain confidential.
SFN launched its European alliance in May last year.