Hawaiki Submarine Cable Limited Partnership and International Connectivity Services Limited has announced the sale of its business to BW Digital Pte. Ltd., an affiliate of BW Group Limited.
BW Group is one of the world’s leading maritime groups in the tanker, gas, and offshore segments. It provides energy transportation and infrastructure services across the energy value chain.
Headquartered in Auckland – New Zealand, Hawaiki is a network of submarine cable systems extending 15,000 Km and linking Australia, New Zealand, American Samoa, Hawaii and Oregon, on the US West Coast. Financial details of the transaction were not disclosed.
The systems reaches 356 million users and has a guaranteed design life of 25 years, which means the cable will be in service until at least 2043, company executives said.
The current Hawaiki team will continue to manage the business, and the transaction is subject only to applicable regulatory filings and approval.
Rémi Galasso, executive chairman of Hawaiki, said: “Having established a successful subsea cable business with the support of our customers and partners, the company started a process to find a new long-term shareholder who is able to take the company to the next stage of development.
“BW has an excellent track record of growth in maritime and technology-related assets, combined with the highest standards of governance and strong access to capital through relationships with leading global banks and through the capital markets. Three years after Hawaiki’s commercial launch, it is time to write a new chapter of the company’s history and we believe BW is an ideal shareholder for this fast-growing business.”
Andreas Sohmen-Pao, executive chairman of BW Group, added: “BW Group has a deep heritage in maritime connectivity and infrastructure, with assets spanning production, transportation and distribution.
“Our strategy is to help connect countries across the oceans while working to reduce our environmental impact, including recent investments into wind installation vessels, floating wind, batteries, solar and other sustainable technologies. Hawaiki is a great fit and we are pleased to be able to support the team in their next phase of development”.
The cable lands in different operators facilities on different shores, including Flexential in Hillsboro, Westin Building Exchange in Seattle, Coresite in Los Angeles, and Equinix in San Jose and Sydney.