Infratil has executed a conditional agreement with HKT Trust and HKT Ltd., a telecommunications company in Hong Kong, that would see Infratil acquire an initial 80 percent stake in Console Connect for $160 million.
Console Connect is a global software-defined interconnection platform that offers next-generation automated connectivity solutions for data centers, clouds and other applications. Console Connect owns its global IP network, which has been a top-10 Tier 1 network globally for the past five years, serving around 17 percent of all internet traffic and reaching more than 150 countries.
In addition to its initial $160 million capital injection, Infratil also plans to enter into a strategic partnership with HKT, with both jointly investing up to $295 million over a two-year period to accelerate Console Connect’s growth. The partners plan to expand critical fiber infrastructure and IP access to Console Connect’s existing and new enterprise and wholesale custome