Cordiant Digital Infrastructure says Speed Fibre acquisition presents "significant opportunities"
London, UK
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November 09, 2023 05:36 AM Eastern Standard Time
Cordiant Digital Infrastructure Ltd (LSE:CORD) Managing Director David Kippen and Vice President Joel Ntamirira visit the Proactive London studio to speak with Thomas Warner about how the business has been performing, and what investors can expect for the future.
The visit follows the recent announcement of the acquisition of Speed Fibre Group in Ireland, a move which Ntamirira says exemplifies the company's investment ethos, purchased at an attractive 8.3 times EBITDA. He says that the acquisition of Speed Fibre Group, a key player in the wholesale backhaul segment, aligns with Cordiant’s objective of tapping into burgeoning markets like Ireland, where digitalization has led to substantial GDP growth.
The investment in Speed Fibre is poised to leverage Ireland's forecasted data rate increases, suggesting a promising growth trajectory for the company. Looking ahead, Kippen says that Cordiant aims to continue their "buy, build, and grow" strategy, focusing on acquiring cash-flowing assets and expanding them through capital expenditure.
Upcoming results announcements are expected, and the firm sees the current market as an opportune moment for deploying capital into data centres, towers, and especially the fibre sector, reinforcing their commitment to contributing to a low-carbon future through digital infrastructure investment.
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