A shared vision for a unique developer and operator of subsea routes to benefit emerging markets
WASHINGTON, D.C. and BOSTON, MA, January 10, 2014 – The International Finance Corporation (IFC), a member of the World Bank Group, and Seaborn Networks Holdings, LLC today announced that the IFC is now an investor in Seaborn Networks. Seaborn’s recent financing round, which was led by Seaborn’s existing investor group, also included the IFC. Funds raised by Seaborn will be used for Seabras-1, which is Seaborn’s new Brazil-US submarine cable project.
Seabras-1 is a new 40 Tbps submarine fiber optic cable system between São Paulo and New York City, with an additional landing in Fortaleza, Brazil, that is scheduled for completion in 2015. The new system is being built for Seaborn by Alcatel-Lucent Submarine Networks and will be the first direct route between São Paulo and the United States.
“Seaborn’s approach of selling spectrum and lit capacity on the wholesale market helps to accelerate broadband development, an important tool for economic growth, in Brazil and other South American countries,” said Aniko Szigetvari, IFC Head of Telecom, Media and Technology for Africa and Latin America.
“We welcome the IFC as an investor and value-added partner with regard to Seabras-1 and future routes,” said Larry Schwartz, Seaborn’s CEO. “IFC’s involvement with Seaborn will accelerate our plan to become a unique developer of subsea routes.”
While Seabras-1 remains Seaborn’s priority, certain other routes are already in the development stage.Posted on 10th January 2014
Seaborn atends global communications needs in the Americas, providing Transport, Ethernet Private Line and IP services. Unique among independent cable operators, Seaborn fully operates and maintains its subsea and land-based cable infrastructure. POPs, Terrestrial Backhaul and Cable Landing Station of submarine cables are owned by Seaborn. Seaborn’s team has designed, built and operated more submarine cable systems than any other telecommunications team, including more than 75 Cable Landing Stations, 250 global POPs and 250,000 km of submarine fiber optic cables. Visit www.seabornnetworks.com for more information or follow us on LinkedIn.
Kai Honda, Manager of Sales Operations and Marketing