Press Release

Private equity firm with expertise in global expansion initiatives invests in Aqua Comms and the future of subsea cable network developments and operations

DUBLIN, Ireland, May 5, 2016 (GLOBE NEWSWIRE) — Aqua Comms Limited (“Aqua Comms”), a provider of scalable, subsea capacity-based network solutions, announced today that it has entered into an agreement with global private equity firm Cartesian Capital Group (“Cartesian”), for up to $75 million in equity capital to support global growth initiatives. The financing agreement immediately provides $50 million that Aqua Comms will use to further accelerate customer growth on its existing networks. In addition, Cartesian has committed to fund an additional $25 million of equity capital to be used to opportunistically accelerate expansion including potential new routes.

Aqua Comms currently operates a number of subsea fibre-optic networks. Recently completed and declared “ready for service”, America Europe Connect (“AEConnect”) is the newest Atlantic subsea cable system powering a direct, diverse route from existing transatlantic systems to support metro networks and data centre interconnectivity (DCI) to all of the major data centres in Dublin, London, and New York. The 6,300 Kilometre network allows businesses to scale against increased future capacity requirements and is also the most secure cable system in existence, being the first to achieve Ciena's FIPS 140-2 Level 3 encryption certification.

In addition, Aqua Comms also owns and operates CeltixConnect, a subsea fibre-optic network connecting Ireland to the United Kingdom across the Irish Sea.

Cartesian joins Aqua Ventures International (“Aquavint”), Aqua Comms' founding shareholder. Peter Yu, Managing Partner and Founder of Cartesian, will be appointed to Aqua Comms' Board of Directors.

“From the first meeting with Cartesian we knew we had found the right partner. Cartesian were fully engaged from day one and shared our vision for the global expansion of Aqua Comms in the subsea fibre-optic market. On behalf of Aqua Comms we are delighted to have Cartesian as our Partner and the skills and energy they bring to our organisation, and the significant financial commitment they have made to our vision to explore further network expansion” said Martin Roche CFO.

Peter Yu added, “We are pleased to partner with the Aqua Comms founders and team as they deliver the benefits of their customer-driven open network to clients for the busiest and most competitive intercontinental route. We believe that AEConnect is the right choice for large content and cloud providers who require scalable bandwidth, high reliability, and maximum uptime.”

“This investment and partnership solidifies Aqua Comms' leading role in the development of subsea fibre-optic telecommunications infrastructure. The Company is well positioned to further expand on its existing base of advanced telecommunications infrastructure between North American and Europe” said Thor Johnsen of Vanir Capital Limited, a consultant to Aqua Comms.

“After successfully completing development of AEConnect in unprecedented time, Aqua Comms is looking forward to pursuing additional global expansion developments,” said Jacob Logothetis, Managing Director of Aquavint and Non-Executive Board Member. “The infusion of capital further strengthens the company's financial base and enhances the team's resources in undertaking global initiatives through our newly formed partnership with Cartesian.”

Moelis & Company LLC acted as financial advisor and exclusive placement agent to Aqua Comms on the transaction. Kirkland & Ellis International LLP and Phillip Lee acted as the legal advisors to Aqua Comms on the transaction. Leman acted as legal advisor to Cartesian on the transaction.

About Aqua Comms Limited

Aqua Comms Limited (Aqua Comms) is the owner and operator of the transatlantic cable AEConnect and the Irish Sea cable CeltixConnect, and was established to build, acquire or merge with subsea fiber optic cable networks to provide capacity networking solutions to the global media, content providers and IT companies. To learn more about Aqua Comms and its new transatlantic subsea cable system, AEConnect, visit

About Cartesian Capital Group LLC

Cartesian Capital Group, LLC is a global private equity firm with proven expertise in assisting closely-held companies to expand internationally. Cartesian manages more than $2.4 billion in capital and has offices in New York, Sao Paulo, Shanghai, Warsaw, and Bermuda.

About Aqua Ventures International FZE

Aqua Ventures FZE International (Aquavint), is a UAE based investment holdings firm with a portfolio of investments in Telecommunications, Technology, Natural Resources, Alternative Energy and Real Estate.

Media Inquiries

Greg Varisco Chief Operations Officer, Aqua Comms Limited Tel: +353 1 662 4399 [email protected]