EXA Infrastructure has agreed to acquire Global Communication Net AD (GCN), a Bulgarian telecommunications company offering services on its owned national fibre optic network of over 2,500km (over 1,550 miles).
EXA Infrastructure provides critical modern infrastructure and engineering expertise that serves as the backbone for digital and economic growth, and the deal will see EXA Infrastructure acquire the full suite of GCN’s products and services, including dark fibre, wavelength and colocation services.
With the addition of GCN’s network, EXA Infrastructure will expand its extensive footprint into the strategically important region of South-Eastern Europe, providing key access to international interconnection points in Turkey, Greece, Romania, North Macedonia, Serbia and Georgia. This region has grown in significance due to the traffic volumes entering Europe from Asia and the Middle East, and also due to the greater focus on network redundancy and alternative route provisioning given the lack of diversity around the Red Sea.
As a result of the deal, EXA Infrastructure now owns 155,000km (96,312 miles) of fibre network infrastructure across 37 countries, strengthening its position as the largest owned network connecting Europe to the rest of the world.
Steve Roberts, SVP of Network Investments and Products at EXA Infrastructure, says, “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. 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, adds, “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 strategic leadership, Dimiter Angelov, current CEO and ex-majority shareholder of GCN, has announced his planned departure as the company prepares for its acquisition by EXA Infrastructure. Under Dimiter’s stewardship, GCN not only evolved from a modest fibre optic network operator into a thriving and resilient enterprise, but also spearheaded the construction of Bulgaria’s government backbone network spanning the whole of the country.
Reflecting on his journey, Dimiter expressed pride in the company’s accomplishments and confidence that, once the transition is complete, EXA Infrastructure will continue to uphold the legacy he has built. He believes the values and vision that have defined GCN will endure as the company embarks on this new chapter.
The transaction was facilitated by DB Capital as lead advisors to the majority shareholder of GCN, alongside KND Partnership and Sofia Connect EAD as one of the sellers. Completion is subject to certain customary conditions and is expected to be completed in Q4 2024.
For more from EXA Infrastructure, click here.
