Many in the industry know Hibernia Networks. Most notable for their Express transatlantic service, the fiber cable connecting the US and the European market used by a.o. the HFT community. It has now been announced that GTT is set to acquire Hibernia. The total transaction is worth $590 million, of which $515 million is cash. This looks like a fairly low price, a single transatlantic fiber can cost this much.
For those not familiar with them, GTT provides cloud, network, media and voice services to a broad client base. With this acquisition GTT improves it's position in media and entertainment as well as financial services with "Express".
For Express customers (directly or indirectly) nothing is likely to change in the short term.