With an investment from Tiger Infrastructure Partners, a middle-market private equity firm, Crosslake Fibre bolsters its presence in the marketplace. Crosslake is constructing the first submarine cable from
Toronto to Buffalo via Lake Ontario. The project stems from demand for high capacity, low latency bandwidth, as well as changes in the Canadian telecom industry, which previously limited foreign ownership of fiber by non-Canadian carriers. The targeted ready-for-service date for the cable system is September 2018. “Crosslake will enable the purchase of new, diverse dark fibre between Canada and the U.S., allowing carriers to displace leased fibre and add diversity,” said Michael Cunningham, CEO of Crosslake. “We are excited to partner with Tiger Infrastructure to grow the Crosslake platform.”
Tiger Infrastructure Partners invests in growing sectors in Europe and North America, including communications, energy and transportation. “We are pleased to be working with an experienced executive who has demonstrated an ability to develop and deploy complex telecommunications infrastructure projects,” said Emil Henry, CEO and Managing Partner of Tiger Infrastructure Partners.
In addition, Crosslake Fibre recently announced plans for a new submarine cable system connecting cable landing stations in Wall, New Jersey to Long Island, New York. This physically diverse cable system, bypasses New York metro and addresses the need for reliable capacity and high capacity infrastructure. We look forward to seeing other developments from Crosslake Fibre in the coming year! Follow Crosslake Fibre on Twitter @CrosslakeFibre. For additional information, see www.crosslakefibre.ca.