Digicel buys Caribbean fibre network
DIGICEL today has inked a deal with the Guadeloupe-based Loret Group and with Caribbean Fibre Holdings to acquire a submarine fibre network across the Caribbean region.
The telecommunications company will acquire Middle Caribbean Network, Southern Caribbean Fibre, Antilles Crossings and a number of related assets from Global Caribbean Fibre.
The purchase provides Digicel with a wholly-owned submarine fibre optic cable network of approximately 2,100-kilometre (km) providing capacity from Trinidad to Guadeloupe.
In a related transaction, Global Caribbean Fibre and Global Caribbean Network will also provide Digicel with submarine fibre capacity from Guadeloupe to Puerto Rico with onwards connectivity to the mainland United States.
In total, Digicel has secured access to a robust network comprised of 15 submarine segments with a reach of some 3,100 km across the Caribbean region.
Digicel will also have extensive onwards capacity on other submarine networks connecting locations such as Miami, Paris and New York.
The financial terms of the contract are not being disclosed and the transaction is subject to regulatory approval.
"We are always looking for new ways to ensure that we deliver choice and innovation to our valued customers," said Colm Delves, CEO of Digicel Group. "The acquisition of this submarine network secures significant additional broadband capacity for Digicel. This additional capacity is central to our continued drive to offer innovative services and products to our customers in a data- hungry world."
Digicel Group operates in 31 markets in the Caribbean, Central America and Asia Pacific. After 12 years of operation, total investment to date stands at over US$4.9 billion worldwide. The company is renowned for delivering best value, best service and best network.