Seacom has announced that it has concluded the 100% acquisition of FibreCo.
FibreCo owns and operates a national open access dark fibre network, providing infrastructure, connectivity and services across South Africa.
The acquisition is subject to approval by the South African Competition Commission.
“This acquisition represents another major milestone towards Seacom achieving its vision to expand its African footprint through the consolidation of fibre assets,” the group said.
The group said that it believes this is a necessary step for the evolution of the market, “particularly as we move into the 5G environment with its requirement for pervasive fibre networks”.
Seacom connects South Africa to the east coast of Africa, India and Europe and FibreCo connects over 60 points of presence across South Africa, including major data centres in Johannesburg, Cape Town, Bloemfontein, Durban, Port Elizabeth and East London.
FibreCo’s network also connects the Seacom subsea cable system (which lands in Mtunzini on the east coast of South Africa) to the WACS cable (which lands at Yzerfontein, on the west coast of South Africa), enabling fully redundant high-speed ring protection for diversity around the African continent.
“The FibreCo acquisition significantly strengthens Seacom’s operations in South Africa by creating a platform for the expansion of its business services. It enables the delivery of high-speed Internet connectivity and cloud products into smaller cities and towns across the country, which have typically been under-serviced,” the group said in a statement.
It was first reported that Seacom was looking to buy FibreCo in August 2018.