Retelit joins the Open Hub Med consortium
17 February 2017 - 08:22Price sensitive | Press releases
Company announces entry into the Open Hub Med project, the new telecommunications hub in Sicily - perfectly complementing the AAE-1 cable in Bari
Retelit confirms its interest in the Mediterranean, joining the “Open Hub Med” (OHM) project, with an investment of Euro 100,000.00 for acquisition of 9.52% of the consortium share capital.
Open Hub Med, the Sicilian Consortium comprising, in addition to Retelit, Interoute Italia, Italtel, Eolo, MIX, Supernap Italia, Equinix Italia, Fastweb, In-Site, Vuetel Italia and the Sicilian consortium XMED, is the largest neutral and open data exchange hub in Italy and the main landing point for submarine cables in the Mediterranean.
The investment is part of the strategy to maximise the industrial and commercial potential of the AAE-1 submarine cable, perfectly complementing it. Retelit in fact, in addition to the AAE-1 submarine landing point in Bari, from today may utilise an additional hub for data exchange in Southern Italy - addressing Internet traffic, through OHM hub submarine cables, to Milan and the major European hubs using its fiber optic backbone.
According to recent estimates, traffic from Asia to Europe will increase nearly 60% by 2019. Most of this traffic currently converges in the French hub (Marseilles), at present the main independent submarine data traffic junction. Through agreements between its Palermo Data Center and the other submarine cable landing stations, in addition to the construction of an open transport platform to Europe, OHM establishes Sicily, located strategically in the
centre of the Mediterranean, as a privileged landing point for traffic to and from the Middle East, Africa and the Far East.
Federico Protto, Chief Executive Officer and General Manager of Retelit and from today also a Director, stated of “Open Hub Med”: “Joining the OHM confirms the company’s desire to invest in strategic technological and digital hubs. In addition to the Puglia route, with the AAE-1 system submarine network, thanks to the presence in Sicily with OHM we can offer international operators a range of routes and more competitive infrastructural solutions, contributing, in addition, to a new international telecommunications set up which confirms the central role of Italy and the Mediterranean. Retelit has chosen to invest in the Open Hub Med Consortium in order to be involved in the development of a successful and cutting-edge high quality technological hub in Southern Italy and in a pivotally located city such as Palermo”.