{"id":267033,"date":"2018-08-23T12:33:25","date_gmt":"2018-08-23T10:33:25","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=267033"},"modified":"2018-08-23T12:38:06","modified_gmt":"2018-08-23T10:38:06","slug":"seacom-in-talks-to-acquire-fibreco-report","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/internet\/267033\/seacom-in-talks-to-acquire-fibreco-report\/","title":{"rendered":"Seacom in talks to acquire FibreCo: report"},"content":{"rendered":"<p>SEACOM is reportedly in advanced discussions to acquire\u00a0<a href=\"https:\/\/fibreco.co.za\/\" target=\"_blank\" rel=\"noopener\"><strong>FibreCo<\/strong><\/a>, according to <strong><a href=\"https:\/\/mybroadband.co.za\/news\/business\/272919-seacom-in-talks-to-buy-fibreco.html\">MyBroadband, citing sources close to the matter<\/a><\/strong>.<\/p>\n<p>FibreCo owns a national open access network and provides telecoms services to enterprises, the government, and carrier clients. Its 4,000km\u00a0<a href=\"https:\/\/fibreco.co.za\/fibreco-network\/\" target=\"_blank\" rel=\"noopener\"><strong>fibre network<\/strong><\/a>\u00a0consists of underground fibre routes and carrier-grade equipment hosting facilities interconnecting over 59 points of presence in South Africa.<\/p>\n<p>The company\u2019s points of presence include major data centres in Johannesburg, Cape Town, Bloemfontein, Durban, Port Elizabeth, and East London.<\/p>\n<p>SEACOM, in turn, is known for\u00a0<a href=\"https:\/\/seacom.mu\/our-history\/\" target=\"_blank\" rel=\"noopener\"><strong>launching<\/strong><\/a>\u00a0Africa\u2019s first broadband submarine cable system along the eastern and southern coastlines in 2009.<\/p>\n<p>Since then the company has moved beyond being a cable operator to become a major pan-African service provider, offering a full suite of data services.<\/p>\n<p><strong>Acquisition strategy<\/strong><\/p>\n<p>The company has also launched an enterprise division, which provides the business market with connectivity and cloud services at competitive prices.<\/p>\n<p>To further grow its telecoms offerings, SEACOM has an aggressive acquisition strategy which focuses on urban areas in South Africa and Kenya.<\/p>\n<p>SEACOM CEO\u00a0<a href=\"https:\/\/mybroadband.co.za\/news\/fibre\/264145-massive-customer-growth-for-seacom-business.html\" target=\"_blank\" rel=\"noopener\"><strong>Byron Clatterbuck said<\/strong><\/a>\u00a0in June 2018 that they were evaluating several acquisitions.<\/p>\n<p>MyBroadband has now learned that SEACOM is in discussions to acquire FibreCo, which will provide it with a long-distance fibre network in South Africa.<\/p>\n<p>This will complement SEACOM\u2019s existing submarine cable network and its growing metropolitan fibre network.<\/p>\n<p>Sources told MyBroadband that FibreCo has accepted an offer from SEACOM, but that discussions regarding the acquisition are ongoing.<\/p>\n<p>It is understood that regulatory approvals are also necessary for an acquisition of this size.<\/p>\n<hr \/>\n<p><strong>Read:\u00a0<a href=\"https:\/\/businesstech.co.za\/news\/telecommunications\/251099\/seacom-upgrades-its-subsea-cable-system-to-1-5tbps\/\" rel=\"bookmark\">Seacom upgrades its subsea cable system to 1.5Tbps<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SEACOM is reportedly in advanced discussions to acquire\u00a0FibreCo, according to MyBroadband, citing sources close to the matter.<\/p>\n","protected":false},"author":31,"featured_media":68808,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882],"tags":[1620,26,39],"class_list":["post-267033","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-fibreco","tag-headline","tag-seacom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/267033","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=267033"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/267033\/revisions"}],"predecessor-version":[{"id":267037,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/267033\/revisions\/267037"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/68808"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=267033"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=267033"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=267033"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}