News
Seacom will acquire a 100 per cent stake in Fibreco for an undisclosed fee
African telecoms and subsea connectivity provider, Seacom, has announced the strategic acquisition of FibreCo, to bolster the company’s reach in Southern Africa.
Fibreco owns and operates a nationwide dark fibre network in South Africa, which provides nationwide connectivity. The acquisition will allow Seacom to boost its business and enterprise service offering in Africa.
"The acquisition enables the delivery of high-speed Internet connectivity and cloud products into smaller cities and towns across the country, which have typically been under-serviced," Seacom said in a statement to the press.
Seacom is seeking to expand its regional footprint across Africa, and the acquisition of Fibreco will allow the company to better position itself for the rollout of 5G services in the coming years.
"This acquisition represents another major milestone towards Seacom achieving its vision to expand its African footprint through the consolidation of fibre assets. Seacom believes this is necessary for the evolution of the market, particularly as we move into the 5G environment with its requirement for pervasive fibre networks," the company said.
Seacom owns and operates a number of subsea cabling systems providing vital connectivity between Africa, Europe and the Middle East.
You can stay up to date on all the latest developments in the subsea and submarine industries at the Submarine Networks EMEA 2019 event, which will be held in London on the 12-13 February 2019. Click here to find out how you can be involved.
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