Hibernia Receives Project Express Funding

Transatlantic cable provider Hibernia Atlantic has received $250 million from Huawei Marine Networks, one of its suppliers, to fund Project Express—Hibernia’s plan to build a sub-ocean, low-latency fiber-optic cable system connecting the New York/New Jersey metro area to London, which will offer clients of Hibernia’s Global Financial Network connectivity between the market centers with under 60 milliseconds of latency. Project Express is expected to be complete in the summer of 2012.

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