Australasian infrastructure manager Infratil is to acquire an 80% stake in interconnection platform Console Connect from Hong Kong Telecom (HKT) for US$160m (€146m).
Console Connect offers a digital platform to allow businesses to connect to other digital assets, such as cloud-based data centres. Unlike other service providers, Console Connect owns its underlying core network infrastructure – some 738,000km of fibre network serving 17% of all internet traffic in more than 150 countries.
Infratil will also enter a strategic partnership with HKT, with both jointly investing up to US$295m over a two-year period following the completion of the acquisition.
Funds from the investment will be directed to accelerate Console Connect’s sales and marketing, new sub-sea cable and network expansions, and the platform’s research and development requirements.
Infratil CEO, Jason Boyes, said the investment in Console Connect would build on Infratil’s presence in Asia, and was complementary to its digital infrastructure investments globally – which include CDC Data Centres, One NZ, Kao Data in the UK, and Clearvision Ventures in the US.
HKT’s group managing director, Susanna Hui, said HKT’s partnership with Infratil would deliver benefits to Console Connect, unlocking value in the business and developing further economies of scale.
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