EXA Infrastructure has reached an agreement to acquire Global Communication Net AD (GCN), a Bulgarian telecommunications provider operating a national fibreoptic network exceeding 2,500km. This acquisition represents a key enhancement of EXA Infrastructure’s strategic assets in South-Eastern Europe. The transaction, advised by DB Capital as lead advisors to GCN’s majority shareholder, with KND Partnership and Sofia Connect also involved, remains subject to customary conditions, with completion anticipated in the fourth quarter of 2024.
EXA Infrastructure delivers essential modern infrastructure and engineering expertise that underpin digital and economic progress. As part of this deal, EXA will obtain GCN’s entire portfolio of services, including dark fibre, wavelength, and colocation services.
The acquisition of GCN’s network expands EXA Infrastructure’s already substantial presence into South-Eastern Europe, providing access to key international connection points in Turkey, Greece, Romania, North Macedonia, Serbia, and Georgia. This region has gained importance due to increasing traffic entering Europe from Asia and the Middle East, along with growing concerns over network diversity and redundancy, particularly around the Red Sea area.
Following this transaction, EXA Infrastructure now owns a 155,000km fibre network across 37 countries, solidifying its position as the largest privately owned network linking Europe to the global market.
“The GCN network consists of over 2,500km of owned duct and cable connecting Sofia with all the borders neighbouring Bulgaria as well as the Black Sea coast cities of Balchik, Varna and Burgas,” said Steve Roberts, SVP of network investments and products at EXA Infrastructure. “Each of these locations are strategically important for existing and planned subsea cables, creating a natural east-west corridor. EXA Infrastructure also gains 100km of metro network connecting key data centres and business zones within Sofia. By adding the GCN assets into our expanding network, we continue to offer our customers more route options and more scalability traffic into and around Europe.”
Jim Fagan, CEO, EXA Infrastructure, added: “This acquisition further extends our network presence in South-Eastern Europe, and continues to differentiate our capabilities in serving customers for their critical infrastructure needs across the breadth of Europe. We have near term plans to expand our network both organically and through acquisition to bring more value, options and services to our customers in an ever-changing digital world.”
After nearly two decades of leadership, GCN’s CEO and former majority shareholder, Dimiter Angelov, has announced his intention to step down as the company transitions to EXA Infrastructure. Under Mr Angelov’s guidance, GCN grew from a small fibre optic operator to a robust enterprise, leading the construction of Bulgaria’s government backbone network. Reflecting on his tenure, Mr Angelov expressed pride in GCN’s achievements and confidence in EXA Infrastructure’s ability to maintain the company’s values and vision as it moves into its next phase.
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