|About the transaction:
||Akur advised D9 as sole M&A adviser in the acquisition of 100% of Aqua Comms DAC (“Aqua Comms”) for c.$215m, a platform owning and operating some 14,300km of the most reliable and resilient trans-Atlantic sub-sea fibre systems – representing the very “backbone” of the internet.
Aqua Comms’ assets are established, fully operational, and benefit from a long-established customer base, particularly comprising the FAANGs, and other global content providers, including Microsoft, Google, Amazon, Facebook and Apple. D9’s investment manager believes the platform has in-built further growth potential.
The transaction was a complex cross-border transaction including Irish, US, and UK counterpaties, acquired from ISIF (Ireland Sovereign wealth fund) and a range of private vendors. The consideration was satisfed by 70% in cash and 30% in vendors rolling over into D9 shares.