Interoute Communications Ltd., the privately held owner and operator of the i-21 voice and data network in Europe, has signed a partnership agreement with Tecom, a United Arab Emirates telecom operator and member of Dubai Holding.
Under the contract, Dubai Holding (Tecom) has taken a stake in Interoute, in exchange for an equity investment totaling more than $142 million. Interoute will use the cash to expand into the under-served wholesale markets of Southern and Eastern Europe, the Middle East and North Africa, and grow the corporate customer base using its next-generation network.
The Tecom investment coincides with Interoutes acquisition last week of Via Networks and the PSINet Europe assets.
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January 17 2019 @ 18:50:04 UTC