A joint statement from the two companies said the Hawaiki cable had been commissioned on 20 July and was the quickest and biggest link between the US, Australia and New Zealand, with more than 43Tbps of capacity.
It is meant to help handle the increasing volume of data downloaded by Australians, who have been doubling their data consumption by 50% over the last five years.
Hawaiki, which is carrier neutral, will enhance connectivity in Australia, New Zealand, the Pacific Islands and the US. Its network design includes several branching units to expand to additional Pacific Island countries.
“This transaction has been structured to support Hawaiki’s growth and deliver an attractive risk/return profile for our investors, and provides substantial diversification benefits relative to the existing assets in our investors’ portfolios.”
Hawaiki chief executive Remi Galasso said: “Our partnership with Palisade marks a cornerstone of our development plan to provide greater connectivity and diversity to the Pacific region on a carrier-neutral basis.
"The Hawaiki cable, which started commercial service in July, is a critical piece of infrastructure supporting sharply rising demand for data, and we are pleased to work with Palisade to further expand Hawaiki’s network and assets.”