By Hydro International

Fugro has entered into a partnership with the Shell Ocean Discovery XPRIZE to support first-round testing of the global, three-year competition, which incentivises development of rapid, unmanned and high-resolution ocean mapping technologies. Fugro’s role is to provide high-resolution deepwater baseline bathymetry data over a 500km² competition area. The company has recently collected more than 1 million square kilometres of high-resolution bathymetry data per year globally, predominantly in water depths greater than 750 metres.

Capitalising on its deepwater survey expertise, Fugro will acquire the seafloor data using equipment including a deepwater autonomous underwater vehicle (AUV) equipped with sonar-based survey systems. This information will be used to ground-truth the work of 21 semi-finalist teams advancing to Round 1 of the competition. The challenge for the competing teams is to deploy their inventions to operate at 2,000 metres ocean depth, mapping 20% of the project site at 5.0 metres resolution, and identifying at least five archaeological, biological or geological features, all within a 16-hour timeframe.

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Press Release

LONDON – February 15, 2017 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with over €20 billion of equity capital under management, announced today that it has acquired substantially all the assets of Xtera Communications, Inc (“Xtera”), a provider of innovative and bespoke sub-sea fiber optic solutions. H.I.G. previously provided debtor-in-possession financing to the Xtera debtors in connection with the chapter 11 case.

Established in 1998 and based in the UK (Harold Wood, Essex) and the US (Allen, Texas), Xtera supplies un-repeatered and repeatered sub-sea systems, using high performance optical amplifiers to carry data. Under H.I.G.’s ownership, Xtera’s management and technical team will remain at the helm of the business, focused on successfully executing key existing customer contracts and expanding the business in the rapidly growing markets it serves with a clear roadmap of disruptive product launches.

Carl Harring, Managing Director at H.I.G. Capital commented: “We believe Xtera has considerable growth potential as an independent, well-funded business with a new ownership structure. Its world class IP protected technology is not only differentiated and superior to that of its competitors, but it is delivered to an impressive range of global clients at a cost-effective price point. We are excited to be working with this industry-leading team and our immediate focus will be to work with them to deliver and build on existing contracts and over the long-term, provide the financial support to enable the company to fully capitalise on its technology with a broader base of customers.”

Stuart Barnes, Founder of Xtera, added: “We are delighted to announce our new partnership with H.I.G. Capital, which has previously invested in the fiber-optics sector and has a proven understanding of how to grow specialist industrial suppliers into market-leading players. We share the same vision of strengthening Xtera’s footprint in the future.”

This investment follows H.I.G.’s recent successful sale of Fibercore, a UK-based designer and manufacturer of specialty optical fiber. Under H.I.G.’s ownership Fibercore grew from a niche producer into a world leading provider of optical fiber to a range of high tech industries. H.I.G. acquired Fibercore from Cisco, in a carve-out transaction back in 2011.

About Xtera
Xtera is an innovative provider of sub-sea telecoms solutions and carries an extensive portfolio of intellectual property. The company supplies both un-repeatered and repeatered systems, using its high performance optical amplifiers to deliver traffic directly inland to cities. Xtera creates novel solutions that are suited for each individual customer whether that be provision of a full turnkey system, an open architecture design or supply of a particular product or service. We aim to challenge the norm and to provide more reliable and higher quality products over new and existing routes. Xtera is a flexible supplier who works with a variety of partners to create the best solution for each project and every customer. For more information please visit www.xtera.com or contact This email address is being protected from spambots. You need JavaScript enabled to view it.

About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €20 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

1. H.I.G. Capital’s equity funds invest in management buyouts, recapitalisations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.

2. H.I.G. Capital’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.

3. H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of €28 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

Contact:
Carl Harring
Managing Director
This email address is being protected from spambots. You need JavaScript enabled to view it. 

H.I.G. Capital
25 St. George Street
London W1S 1FS
United Kingdom

P +44 (0) 207 318 5700
F +44 (0) 207 318 5749
www.higcapital.com 

Press Release

The partnership seeks to take advantage of the numerous networks and content providers already connected to MainOne to grow traffic in the Nigerian Internet Exchange

LAGOS, Nigeria, February 24, 2017/APO/ -- MainData Nigeria (MDXi) and the Internet Exchange Point of Nigeria (IXPN) have announced a partnership aimed at expanding the peering of Internet Transit traffic within Nigeria. The partnership seeks to take advantage of the numerous networks and content providers already connected to MainOne (wwwMainOne.net) to grow traffic in the Nigerian Internet Exchange. With its open access submarine cable system, Tier III data centre and IP transit network already connected to the Lagos, Accra, London and Amsterdam Internet Exchanges, MDXi will bring to the Exchange the capacity to connect directly with the greatest number of IP transit and Content Delivery networks in West Africa.

Speaking during the signing of the Memorandum of Understanding, Chief Executive Officer of the IXPN, Muhammed Rudman highlighted efforts of the Exchange to deepen local content via partnerships focused on the creation and hosting of content in-country. “Our partnership with MDXi provides our members direct and more cost-effective interconnection with their partners, leveraging hosting in MDXi’s Tier III Data Center, and access via MainOne’s open-access submarine cable. This will enhance local internet performance, lower costs and minimize traffic bottlenecks for Internet traffic in Nigeria.”

In her comments, MainOne’s Chief Executive Officer, Funke Opeke reiterated the company’s vision for improved connectivity across West Africa: “MainOne is committed to the penetration of high quality and affordable broadband internet services in West Africa, and bringing the IXPN closer to our network plays an important role in helping us realize that vision not only for Nigeria, but for all of West Africa. Hosting the IXPN in our data center, MDXi will continue to impact positively on the digital transformation of Nigeria and the overall growth of the Nigerian economy by enabling Internet traffic originating and terminating on any network in Nigeria to remain in-country.”

Media contact:
Temitope Osunrinde
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About MainOne:
MainOne (wwwMainOne.net) owns and operates MDXi, the premier Tier III certified data center in West Africa and the open-access 4.96TBPS MainOne submarine cable system. The company serves Telecom Operators, Internet Service Providers, and Major Enterprises including Banks, Blue chip companies and Government agencies.

About The Internet Exchange Point of Nigeria:
The Internet Exchange Point of Nigeria (IXPN) is an operator-neutral exchange point that allows several Internet Service Providers (ISPs) and network operators to exchange traffic between their networks at no costs by means of mutual peering agreements. The IXPN is committed not only to the development of a national Internet infrastructure, but increasingly, an infrastructure that will span the entire African continent, Europe, America, Asia and the entire world.

By Global Telecoms Business

Google's parent Alphabet looks close to selling Skybox, causing speculation that Google's international connectivity ambitions are cooling                  

Executives at Google’s holding company Alphabet are reported to be close to taking Skybox off its books in an equity transaction, fuelling speculation that Google is slowing down its ambitions to connect the world.

The move into connectivity was signaled by the acquisition of Skybox and also by increases in investment in Google Fiber. This was dropped at the end of 2016. The allegations that Google intended to compete with ISPs was always shrouded in mystery and never certain.

However, the acquisition of Webpass, the wireless connectivity specialist, may just indicate that Google thinks it can connect the world in an easier way that laying fibre in the ground and competing for on submarine cables.

It, therefore, looks very likely that Google is drastically cutting back on its connectivity ambitions, although the reason for that may just be due to short-term financials as Google weighs up its options and the availability of the correct acquisitions. It may even be because of the wider political climate in the US.

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Press Release

  • The deal implies an enterprise value of 3,678 million euros and an equity value of 3,188 million euros for Telxius and confirms the valuation established for Telxius at the time of the preparations for its initial public offering.
  • Telefónica will maintain a controlling stake of Telxius and consolidate it in its accounts.

Madrid, 20th February 2017.- Telefónica today reached an agreement with leading global investment firm KKR Group for the sale of up to 40% of Telxius Telecom, its global telecommunications infrastructure company, for a total amount of 1,275 million euros, or 12.75 euros a share. Under the agreement, which is subject to regulatory approvals, Telefónica and KKR will partner together to develop and grow one of the leading global operators of telecom infrastructure including the development of planned new infrastructures.

Telxius owns and operates a large portfolio of nearly 16,000 telecommunications towers in five countries. It also manages an international network with approximately 65,000 kilometers of submarine fibre optic cables, of which around 31,000 kilometers are owned by Telxius. Both business units benefit from attractive growth in their core markets, as the use of mobile data and the demand for reliable internet connectivity continue to grow rapidly, particularly in Spain and Latin America.

Following the deal, Telefonica will remain the anchor client for Telxius’ tower and cable businesses. It will keep a majority stake and operational control of Telxius and continue to consolidate it into its accounts. The sale is part of Telefonica’s strategy to optimize its asset portfolio and allocation of capital, and complements its plan for organic debt reduction.

Guillermo Ansaldo, chairman of Telxius said: “Our vision for Telxius is to capitalize on the exponential increase in data traffic forecast for the coming years by offering a first-class network in Europe and the Americas. We are delighted to have KKR on board as a long-term investment partner. We believe their solid track-record on the infrastructure business will help us achieving our common goals”.

Jesus Olmos, Member & Global Co-Head of Infrastructure and Head of Spain at KKR, said: "The combination of Telefonica's industrial expertise and KKR's financial and operational support will help Telxius as it continues to scale and grow. We are confident that the exploding demand for mobile data, driven by the rise in 4k and virtual reality content, together with the need for reliable internet infrastructure will help drive strong growth in the business."

The deal implies an enterprise value of 3,678 million for Telxius, or 11.4 times its 2017 EBITDA. The agreement confirms the valuation established for Telxius in the offering memorandum for its attempted Initial Public Offering. At that time, the indicative price range for the same stake was between 12 and 15 euros per share. The transaction values Telxius’s equity at 3,188 million euros (12.75 euros a share).

The agreement includes the initial acquisition by KKR of 62 million of shares (24.8% of the total shares) of Telxius for a total amount of 790 million euros, as well as the option to acquire and sell an additional 38 million shares (15.2% of the total shares) for an amount of at least 485 million euros. Such options are related to a call option, exercisable by KKR and a put option, exercisable by Telefónica upon maturity of the call option.

The closing is subject to the corresponding regulatory approvals. The window to exercise these options would be in the fourth quarter, provided the required regulatory approvals have been granted by that date.

About Telxius

Telxius, created in 2016, is the global telecommunications infrastructure company of the Telefónica Group. It is aimed at capturing the exponential increase in data traffic expected in the coming years. With nearly 16,000 telecommunications towers in five countries, Telxius has one of the most extensive tower catalogues in the market among independent infrastructure companies, making it the market leader in Spain and Germany and one of the main suppliers in the tower sector in Brazil, Chile and Peru.

Telxius manages an international network with approximately 65,000 kilometers of submarine fibre optic cables, of which around 31,000 kilometers are owned by Telxius. The Telxius-owned network includes, among other cables, SAM-1, the submarine cable system which has connected the United States with Central America and South America since the year 2000, PCCS (Pacific Caribbean Cable System), which connects the US, Puerto Rico, Curazao, Colombia, Panama and Ecuador, and Unisur, which connects Uruguay and Argentina. BRUSA, the new submarine cable almost 11,000 kilometers long that will connect Brazil, Puerto Rico and the US, as well as MAREA, a cable which will link the United States and Europe, in partnership with Google and Facebook, will both be operational in 2018.

Press Release

Cairo, December 20th, 2016: Orascom Telecom Media and Technology Holding S.A.E. (“OTMT”) announced today that it has executed a Sale and Purchase Agreement with Network i2i, a subsidiary of Bharti Airtel, for the sale of its entire, direct and indirect, shareholding of its subsidiary Middle East and North Africa Submarine Cable (“MENA”). OTMT holds a 100% stake in MENA.

OTMT aims to conclude this transaction by the end of Q1 2017, after the fulfillment of all conditions precedents and after obtaining all necessary regulatory, governmental approvals and fulfilment of the IFA report.

The decision to divest MENA comes in line with OTMT’s strategy in divesting its non-core assets. OTMT intends to utilize the proceeds of the sale in the recently expanded lines of operations being mainly the Financial, the Real Estate and the Logistics Sectors among others, aiming to strengthen OTMT’s profitability position and support its strategy to develop higher-growth / higher-yield businesses.

MENA is a licensed operator in Egypt and Italy operating a submarine telecommunications system connecting Europe to the Middle East and South East Asia.

Bharti Airtel is one of the leading global telecommunication operators with presence in 19 countries.

-END-

About OTMT

OTMT is a holding company that has investments in companies with operations mainly in Egypt, North Korea, Lebanon, Pakistan and other North African and Middle-Eastern countries. The activities of OTMT are mainly divided into its GSM, Media and Technology, and Cable businesses, having recently expanded its lines of operations into the new fields of Energy, Transport & Logistics, and Telecom infrastructure. The GSM activities include mobile telecommunications operations in Egypt, North Korea and Lebanon. The Cable business focuses on the management of cable networks. The new field of Energy includes its operations in the power projects in Egypt.

Press contacts:

Orascom Telecom Media and Technology: Investor Relations

2005A Nile City Towers – South Tower, 26th Floor – Corniche El Nile, Ramlet Beaulac, Cairo, Egypt

E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.