LIMASSOL, Cyprus & NEW YORK --(BUSINESS WIRE)

Datawave Networks Ltd (“Datawave”), a Cyprus-based independent subsea infrastructure provider, today announced that it has entered into a binding investment and financing agreement with affiliates of Cerberus Capital Management, L.P. (“Cerberus”), a global alternative investment firm, relating to the development of the Singapore–India–Gulf (SING) Cable System, a next-generation subsea fibre optic network connecting the Middle East, South Asia, and Southeast Asia.

Upon closing of the transactions contemplated by the agreement, Cerberus will make a significant equity investment in Datawave, securing a majority ownership position, and will also provide project financing to support the construction and deployment of the SING cable system. The investment will enable Datawave to advance the project into full execution and positions SING to address rapidly growing demand for international bandwidth across one of the world’s most strategically important digital corridors.

In parallel, Datawave has entered into an agreement with a leading U.S.-based supplier of subsea cable systems, regarding the design, manufacture, and deployment of the SING cable system. The system is targeting Ready for Service (RFS) in 2030.

The SING cable system is planned to land in Muscat, Oman; Kalba, United Arab Emirates; Mumbai and Chennai, India; Kedah, Malaysia; and Singapore, creating a high-capacity, low-latency route linking key digital hubs across the Middle East, South Asia, and Southeast Asia. Once completed, the system will comprise 16 fiber pairs, each designed to deliver a minimum of 18 terabits per second, providing scalable, future-proofed capacity to meet accelerating regional connectivity requirements.

SING is designed to offer customers flexible and resilient connectivity solutions, which upon deployment will enable onward connectivity from Oman and the UAE to Europe, as well as enhanced regional interconnection within the Middle East, including Saudi Arabia and Abu Dhabi. The system is expected to play a critical role as a high-performance interconnector supporting the rapid expansion of AI, cloud, and hyperscale data center infrastructure across India, Malaysia, Singapore, and the Gulf region.

Commenting on the transaction, Mark Wickham, CEO of Datawave, said: “We are truly excited to partner with Cerberus in taking the next step towards bringing the SING cable system into fruition in one of the world’s most dynamic and fastest-growing digital regions. SING is exceptionally well positioned to meet future connectivity demand driven by significant investments in AI and cloud infrastructure. This investment will allow us to move forward decisively and deliver SING as quickly as possible to secure the region’s long-term growth, especially as a number of existing cables are set to retire.”

Gabriel Schulze representing Cerberus added: “We are proud to announce this agreement with Datawave. What attracted us to the SING project is its unique positioning connecting centers of substantial current and future growth. SING also delivers critical route diversity along the globally important east–west corridor. With anchor customer commitments already in place, we anticipate strong market adoption. The Datawave team had advanced the project over several years, and we saw a clear opportunity where our strategic and financial capabilities could accelerate SING into reality.”

About Datawave

The Datawave Group is an independent digital infrastructure provider focused on subsea fibre optic cable connectivity. Datawave Networks Private Ltd, the Group’s Indian subsidiary, secured its International Long Distance (ILD) license in March 2022 and will act as the Landing Party for SING in India. Datawave’s Singapore subsidiary is expected to serve as the Landing Party in Singapore, with all remaining landing party arrangements already established. Visit www.datawavenetworks.com.

About Cerberus

Founded in 1992, Cerberus is a global alternative investment firm with approximately $70 billion in assets across complementary credit, real estate, and private equity strategies. Cerberus invests across the capital structure where it believes its integrated investment platforms and proprietary operating capabilities can help improve performance and drive long-term value. Cerberus’ tenured teams have experience working collaboratively across asset classes, sectors, and geographies as they seek to achieve strong risk-adjusted returns for investors. For more information, visit www.cerberus.com.

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