Data Center Finance: Control of Hibernia Atlantic Cable System Changes Hands

A document filed with the U.S. Federal Communications Commission in early October revealed that control of the cable landing license for the Hibernia Atlantic Cable System is changing hands.

According to the FCC filing, Columbia Venture Corporation has applied to transfer rights to the system’s landing license over to Murosa Development. Once the transfer is complete, Columbia Venture will hold a 49 percent stake in the Hibernia Atlantic Cable System, while the remaining 51 percent will be controlled by Murosa Development.

The Hibernia Atlantic Cable System is a more than 2,800 mile, non-common carrier fiber optic cable system that links communication between North American cities in the U.S. and Canada with European cities in the U.K. and Ireland. The submarine cable network commenced operations in July, providing the lowest latency path between New York and London. The system also provides terrestrial cable to connect Halifax, Nova Scotia and Brean, U.K. in order to extend connectivity to major metropolitan areas.

The express cable initially launched with 100 Gbps of transmission capacity, using TE SubCom’s CIOO SLTE platform.

“Having a unique, low latency route combined with increased capacity allows Hibernia Express to offer unmatched services to trans-Atlantic connectivity customers,” said Bjarni Thorvardarson, CEO of Hibernia Networks, the company that maintains the cable system. “As a pillar of the submarine cable industry, we are confident that TE SubCom will deliver a highly advanced cable system and world-class implementation.

Hibernia Networks owns and operates a global network of fiber connecting sites in cities across the world, including locations in North America, Europe and Asia. The company also offers more than 200 points of presence in almost 90 markets and 25 countries.