Pacnet teams with Pacific Fibre to build undersea cable

Wednesday 28th July 2010

Pacnet, the owner of Asia’s largest undersea cable, has teamed with local start-up Pacific Fibre to build a US$400 million cable linking New Zealand, Australia and the US.

Pacific Fibre is a venture backed by big-name entrepreneurs Sam Morgan, Stephen Tindall and Rod Drury that aims to challenge Telecom’s Southern Cable. Pacnet and Pacific Fibre will announce the contract to actually build the cable “in coming months,” according to a statement from co-founder Lance Wiggs.

The two companies will share the costs of building and managing the 13,600 kilometre cable, which may be operating as soon as 2013. The partners still need to find customers for the cable.

Pacnet owns EAC-C2C, Asia's largest submarine cable infrastructure at 36,800km and capacity for 10.24 Tbps. It was also the largest investor in the US$300 million Unity cable connecting the US and Japan.

Businesswire.co.nz

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