News | Press Releases
For Immediate Release
BIA DIGITAL PARTNERS ANNOUNCES SUCCESSFUL EXIT FROM HIBERNIA NETWORKS
CHANTILLY, VA, January 31, 2013 - BIA Digital Partners, www.biadp.com, a private investment firm, announced today the exit of its investment in Hibernia Networks (“Hibernia” or the “Company”).
In May of 2009, BIA provided Hibernia with a $12 million loan for growth capital and to assist in funding Project Kelvin, an extensive submarine and terrestrial cable deployment that directly connected Northern Ireland to North America. In August of 2011, BIA funded an additional $6 million to support the Company’s further growth and new projects. In December 2012, Hibernia refinanced the $18 million loan in full.
During the tenure of BIA’s investment in the Company from 2009 through 2012, Hibernia almost tripled its revenue base and more than quintupled its profits.
About BIA Digital
BIA Digital Partners is a private investment firm and has invested over $300 million. Financing is available for acquisitions, organic growth, recapitalizations and leveraged/management buyouts among other purposes. BIA Digital Partners maintains a focus on growth companies operating in the business services, media, telecommunications, and information segments. Investments range from $5 to $20 million and are typically in the form of subordinated debt with warrants or preferred equity. For more information, please visit www.biadp.com.
About Hibernia Networks
Hibernia Networks is a provider of global capacity services. Operating next generation submarine and terrestrial networks throughout North America, Europe and Asia, Hibernia designs its routes with diversity and security at the onset. With a global network backed by 100% availability, Hibernia ensures its customers receive the highest in reliability and peak performance 24x7.
Hibernia offers over 120 redundant network Points of Presence (PoPs) on over 24,000 kilometers of fiber. Hibernia provides secure and diverse dedicated Ethernet, DTM and optical-level services, including GigE, 10G and LanPhy wavelengths and traditional SONET/SDH services. Hibernia is owned by Columbia Ventures Corporation and Constellation Ventures Partners.
For more information on Hibernia’s cutting-edge network and services, please visit www.HiberniaNetworks.com.