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EXA Infrastructure / I Squared Capital
| EXA Infrastructure / I Squared Capital | |
|---|---|
| Date: | January 2025 |
| Deal size: | US$54m acquisition of Aqua Comms (Transatlantic subsea cable portfolio) |
| About the client: | EXA Infrastructure is a dedicated digital infrastructure platform operating throughout Europe, connecting North America and Asia, via the Middle East, with over 20 years of experience of building networks.
I Squared Capital is a leading independent global infrastructure investor, managing or advising c.US$40bn of assets. |
| About the transaction: | Akur advised EXA Infrastructure and I Squared Capital as buy-side financial advisor in the acquisition of 100% of the Transatlantic subsea cable assets from Digital 9 Infrastructure plc. A complex cross-border transaction including five cable assets and landing stations across the USA, UK, Ireland, and Denmark.
Akur advised EXA and ISQ across the entirety of the transaction and the competitive process during the negotiations with Digital 9 and its exiting and incumbent Investment Managers, Triple Point and Infrared Capital Partners respectively. The transaction price achieved was at a highly significant discount (-81%) to the book value of the asset at the start of the process, and a 28% discount to the latest valuation incorporated into D9’s last reported NAV. The transaction demonstrates EXA Infrastructure’s commitment to build a modern and diverse Transatlantic platform to fully serve AI, Cloud and Content demand. This combination will offer EXA’s customers more routes, more capacity and increased diversity, all on a scaled platform. |
| Lead: | Tom Frost |
