Tuesday, 27 July 2021 10:43

NZ cable operator Hawaiki acquired by BW Group

By
Hawaiki executive chairman Remi Galasso with BW Group executive chairman Andreas Sohmen-Pao. Hawaiki executive chairman Remi Galasso with BW Group executive chairman Andreas Sohmen-Pao. Supplied

New Zealand cable operator Hawaiki Submarine Cable has been acquired by BW Digital, an affiliate of the global maritime company BW Group, for an undisclosed price.

Hawaiki owns and operates the Hawaiki Transpacific Cable which went into operation in July 2018, and spans 15,000km.

It is claimed to be the fastest and largest capacity link between New Zealand, Australia, Hawaii and mainland US, with a design capacity of 67Tbps.

In a statement, Hawaiki executive chairman Remi Galasso said: ""We are delighted to welcome BW Group as a shareholder. Having established a successful subsea cable business with the support of our customers and partners, the company started a process to find a new long-term shareholder who is able to take the company to the next stage of development.

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"BW has an excellent track record of growth in maritime and technology-related assets, combined with the highest standards of governance and strong access to capital through relationships with leading global banks and through the capital markets.

"Three years after Hawaiki's commercial launch, it is time to write a new chapter of the company's history and we believe BW is an ideal shareholder for this fast-growing business."

There will be no change in the personnel who manage the Hawaiki business.

BW Group executive chairman Andreas Sohmen-Pao said: "We are excited to be making this investment in Hawaiki's outstanding platform and team.

"BW Group has a deep heritage in maritime connectivity and infrastructure, with assets spanning production, transportation and distribution.

"Our strategy is to help connect countries across the oceans while working to reduce our environmental impact, including recent investments into wind installation vessels, floating wind, batteries, solar and other sustainable technologies.

"Hawaiki is a great fit and we are pleased to be able to support the team in their next phase of development."


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Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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