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IRELAND-FRANCE SUBSEA CABLE AND TIGER INFRASTRUCTURE TO BUILD IFC-1 SUBSEA CABLE BETWEEN IRELAND AND FRANCE

January 16, 2017

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IRELAND-FRANCE SUBSEA CABLE AND TIGER INFRASTRUCTURE TO BUILD IFC-1 SUBSEA CABLE BETWEEN IRELAND AND FRANCE

January 16, 2017

 

 

 

 

 

 

 

 

Cork, Ireland, and New York – January 16, 2017 – Ireland-France Subsea Cable Limited (“IFSC”) today announced a partnership with Tiger Infrastructure Partners (“Tiger Infrastructure”) to finance and construct IFC-1, a submarine fiber-optic cable system that will be the first and only direct subsea cable between Ireland and France.  The transaction is expected to close following customary regulatory approval and other conditions precedent.  Further financial terms of the transaction were not disclosed.

 

The IFC-1 system will be a state-of-the-art subsea cable and provide ultra-high capacity transmission to telecommunication carriers, Internet companies and large enterprises in Ireland looking for connectivity to continental Europe.  “The massive growth of Ireland’s data center industry and the requirement for resilient telecommunications infrastructure has created the need for a new, direct route to continental Europe,” said Michael Cunningham, Chairman of IFSC.  “We are delighted that Tiger Infrastructure shares our vision and look forward to having them as our partner.”

 

“We are pleased to be working with IFSC and its experienced leadership team to develop and build this strategic cable between Ireland and France,” said Emil Henry, CEO and Managing Partner of Tiger Infrastructure Partners.

 

The subsea cable has been designed to extend terrestrially into Dublin, Ireland and Paris, France providing PoP-to-PoP connectivity and enabling long digital line segments.  The system is scheduled to be ready for service in late 2018.

 

Oppenheimer & Co. Inc. acted as the exclusive financial advisor to IFSC in connection with this transaction.

 

About Ireland-France Subsea Cable

 

IFSC was founded in Cork, Ireland in early 2015 as a single purpose entity to develop a submarine fiber-optic cable system between Ireland and France.  IFSC was created by veteran telecom entrepreneurs Michael Cunningham and Douglas Cunningham.  The team has decades of experience in the telecom and finance industries and has previously developed other submarine cable systems, such as Arctic Fibre and Antilles Crossing, and other large-scale telecommunications infrastructure projects.  For more information visit

www.ifc-1.com

 

About Tiger Infrastructure Partners

 

Tiger Infrastructure is an independent middle-market private equity firm that invests in growing infrastructure platforms. Tiger Infrastructure targets investments in the communications, energy, transportation, and related sectors in North America and Europe.  Tiger Management L.L.C. and members of the Ziff family are significant investors in Tiger Infrastructure.

 

Contacts:

 

Ireland-France Subsea Cable Limited

Michael Cunningham

+ 1 416-613-6200

info@ifc-1.com

 

Tiger Infrastructure Partners

+1 212-201-2180

info@tigerinfrastructure.com

 

 

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