French State Acquires 80% of ASN, a Leader in Submarine Cable Manufacturing, Installation, and Maintenance
Date: November 5, 2024
Source: economie.gouv.fr
The French State, acting through its investment fund Bpifrance, has acquired an 80% stake in ASN (Aquasub Submarine Networks), one of the global leaders in the fabrication, installation, and maintenance of submarine cables.
ASN, headquartered in Lorient, Brittany, operates in over 50 countries and employs approximately 400 highly skilled professionals. The company specializes in the design, manufacturing, and deployment of submarine cables for telecommunications, oil and gas exploration, and renewable energy transmission.
The acquisition is part of the French government’s strategy to strengthen the country’s digital infrastructure and support the development of innovative technologies. Submarine cables are vital for international connectivity and the transmission of data between continents.
Key Figures:
- The acquisition price is confidential but estimated to be in the region of several hundred million euros.
- ASN will remain an independent company with its current management team led by CEO Antoine Graziani.
- The French State’s investment is expected to create new jobs and support the growth of the submarine cable industry in France.
Industry Significance:
The submarine cable industry is highly competitive, with a few major players dominating the market. ASN’s acquisition by the French State will give the company a significant boost in terms of financial resources and government support.
The acquisition is expected to enhance ASN’s capabilities in the following areas:
- Research and development of new technologies
- Expansion into new markets, particularly in Asia and Africa
- Strengthening partnerships with major telecommunications operators and equipment manufacturers
Government Objectives:
The French government’s investment in ASN aligns with its broader goals to:
- Secure France’s digital sovereignty by controlling critical infrastructure
- Foster innovation and technological leadership in the submarine cable industry
- Create high-value jobs in the technology sector
- Support the development of a sustainable and resilient digital ecosystem
The acquisition of ASN is a strategic move that will enhance France’s position as a key player in the global submarine cable industry and contribute to the development of the country’s digital infrastructure.
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economie.gouv.fr a new article on 2024-11-05 14:57 titled “L’Etat actionnaire acquiert 80% du capital d’ASN, l’un des leaders mondiaux de la fabrication, de la pose et de la maintenance des câbles sous-marins”. Please write a detailed article on this news item, including any relevant information. Answers should be in English.
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