North American and European network infrastructure investor, Tiger Infrastructure Partners said the company had invested in Crosslake Fibre. Crosslake develops next-generation networks based on optical technology. Crosslake aims to deploy fiber optic cables throughout North America. A recent project includes a new submarine fiber optic cable from Toronto, Canada to Buffalo, New York through Lake Ontario. The project, announced in May 2017, will be the first submarine cable system across Lake Ontario to directly connect Toronto and the United States.
Fiber optic deployments by Telus have been progressing in Canada. Fiber optic networks are required for mobile backhaul, high-speed broadband services, datacenter, and data communication. Investment in fiber optic networks is worth considering longterm business potentials. Unlike many other investments, investment in fiber optic networks requires patience as the return of investment typically takes long and hence many investors are distracted from making the investment. Thus the decision by Tiger Infrastructure Partners is highly commendable and laudable.
Crosslake is well positioned to take advantage of recent developments in the Canadian telecommunications industry. Foreign ownership restrictions in Canada have historically prevented ownership of fibre by non-Canadian carriers. As a result, the Canadian market is dominated by large incumbents who do not typically sell dark fiber (unused fiber). Crosslake will enable the purchase of new, diverse dark fiber between Canada and the U.S., allowing carriers to displace leased optical fibers and add diversity.
Tiger Infrastructure Partners said they are pleased to be working with an experienced executive who has demonstrated an ability to develop and deploy complex telecommunications infrastructure projects mentioning to the CEO of Crosslake Fibre.
Crosslake’s Toronto to Buffalo network will have a high fiber count cable and be physically diverse from other routes between Toronto and Buffalo while being shorter in length. The targeted ready-for-service date for the fiber cable system is September 2018.
In addition, Crosslake Fibre recently announced plans for a submarine cable system connecting cable landing stations in Wall, New Jersey to Long Island, New York. This physically diverse cable system addresses the growing demand for reliable network connectivity and high capacity bandwidth options.
Crosslake Fibre was established to develop fiber optic projects throughout North America. Crosslake’s innovative approach to developing next-generation networks will bring new backbone routes to telecommunications carriers and web-centric customers, and last mile broadband to consumers. Crosslake Fibre’s leading project is its Lake Ontario project to construct a new subsea cable from Toronto, Canada to Buffalo, New York.
Tiger Infrastructure Partners is a middle-market private equity firm that invests in growing infrastructure platforms. Tiger Infrastructure targets investments in communications, energy, transportation, and related sectors, primarily located in North America and Europe.