Cerberus acquires TE's subsea communications business

Share this on social media:

An affiliate of Cerberus Capital Management has entered into an agreement with TE Connectivity which will see Cerberus acquire TE's Subsea Communications business, SubCom.

SubCom is a global supplier of subsea communications systems which designs, manufactures, deploys, and maintains the subsea fibre optic cable systems. To date, the company has completed more than 100 cable systems and deployed over 610,000km of cable. SubCom, supported by approximately 1,400 employees, has a strong customer base of leading internet content providers, telecommunications companies, and entrepreneurs around the world.

Michael Sanford, co-head of North American private equity and senior managing director of Cerberus said: ‘SubCom is a recognised pioneer in the subsea fibre optic cable industry with a long track record of technology innovation and excellent project management and customer service. Through this investment, SubCom will become an independent, standalone business that is well-positioned to capitalize on the significant growth opportunities ahead. We look forward to partnering with the talented SubCom employees and leveraging our operational expertise and resources to deliver innovative, integrated, and reliable solutions to meet the needs of SubCom's global customers.’

The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2018.

Related news

Recent News

09 May 2019

Philip Jansen has announced plans for the company to increase its FTTP ambition to 15 million UK premises passed.

07 May 2019

Verizon has chosen Infinera as a supplier of automation technology to help enable the migration of its time-division multiplexing (TDM) network to a new Ethernet-based network.

03 May 2019

Fastweb will now be able to use some FTTH connections built by Open Fiber.

01 May 2019

The House of Lords Select Committee on the Rural Economy has called on the government to develop a rural strategy in order to help realise the potential of rural economies.