MAAS-Backed Firmus to Invest Around $300 Million in Trans-Pacific Submarine Cable System

MT Newswires Live

Sep 03

Firmus is set to become a cornerstone customer on SUBCO's APX East submarine cable system once it's built, making an around $300 million investment and securing up to 150 terabits per second of dedicated capacity over 25 years on APX East, according to a Thursday statement.

APX East is SUBCO's Trans-Pacific cable system, designed to provide an independent, direct route between Australia and the US.

An August Australian bourse filing showed that Maas Group (ASX:MGH) agreed to acquire an additional AU$300 million of Firmus shares at AU$230 apeice.

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