What Farice does

Farice is a state-owned Icelandic telecommunications infrastructure company that owns and operates the submarine fiber optic cable systems providing Iceland's primary international connectivity to Europe. Founded in September 2002 and fully owned by the Icelandic Government, Farice currently operates three submarine cables: FARICE-1 (to Scotland, operational since January 2004, 10 Tb/s capacity), DANICE (to Denmark, operational since 2009, 40 Tb/s capacity), and IRIS (to Ireland, operational since March 2023, up to 132 Tb/s capacity), giving an aggregate network capacity of approximately 182 Tb/s. The company's technology stack is built on DWDM (Dense Wavelength Division Multiplexing) optical transmission, with CIENA WaveLogic 5 wavelength technology on IRIS and DANICE, and a recently upgraded Spellman High Voltage power feed system on FARICE-1. FARICE-1 has had zero circuit faults across its 21-year operating life, and the network has maintained 100% availability over its operating lifetime, positioning Farice as a reliability-anchored critical infrastructure provider.

Farice operates exclusively as a wholesale B2B provider, selling international capacity services (Leased Lines, Ethernet Private Line, and Global IP Transit) directly to telecom operators in Iceland, the Faroe Islands, and Greenland, and to data center operators in Iceland. The company monetizes capacity through subscription/recurring contracts and operates Points of Presence (POPs) in Reykjavik, Akureyri, and Keflavik domestically, with delivery points across Dublin, London, Amsterdam, Frankfurt, Hamburg, and Copenhagen. Named customers include BT Wholesale, Faroese Telecom, Equinix, Verne Global, and BNP Paribas. Farice also launched Varaleiðin, a satellite-based backup route in April 2025, providing automatic failover during submarine cable outages.

Farice's commercial proposition is structurally tied to Iceland's geographic and energy advantages: the country's 100% renewable energy (geothermal and hydroelectric) and cool climate make Iceland an attractive data center hub, and Farice is the primary conduit connecting that hub to European networks with low latency (10.5ms Reykjavik-Dublin via IRIS). The company announced a fourth cable, AUÐUR, to Scotland in April 2026, planned for 2030 operational date, with 16-24 fiber pairs and self-funded without additional government support — signaling a transition toward commercially-driven expansion alongside its established role as Iceland's sovereign international connectivity provider.

Name

Farice

Legal name

FARICE ehf.

Website

https://farice.is

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

1–10 employees

Short description

Farice is Iceland's state-owned provider of international submarine cable connectivity, operating three fiber optic cables (FARICE-1, DANICE, IRIS) linking Iceland to Scotland, Denmark, and Ireland. The wholesale B2B operator serves telecom carriers and data center operators across Northern Europe with high-capacity, reliable connectivity.

Ownership category

akta.pro rank

Product category

Submarine Cable Infrastructure

NAICS

Wired and Wireless Telecommunications Carriers (except Satellite) (51711)

akta.pro primary industry

Subsea Capacity Wholesale (IRUs, leased capacity, backhaul to landing stations) (HDAIAEAI)

akta.pro secondary industries

Subsea Cable System Owners & Consortia (Wet Plant Investment) (HDAIALAA), Subsea & Terrestrial Backhaul to Data Centers and Cloud On-Ramps (IX/DC Interconnect) (HDAIALAJ), Wholesale Wavelength, Spectrum & Dark Fiber Providers (IRU/Leases) (HDAIALAI)

Keywords

• Submarine cable infrastructure
• Wholesale telecom capacity
• International connectivity services
• DWDM wavelength services
• Data center connectivity

Headquarters

HQ city

Kópavogur

HQ country

Iceland

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations

Revenue model

1. Wholesale Capacity Services: Farice provides international wholesale connectivity services to telecom operators and data center customers. Services include high capacity DWDM wavelengths, IP transit, and Ethernet services including Leased Lines and Ethernet Private Line services. Revenue is generated through capacity sales and wavelength services on a wholesale basis.
2. Data Center Connectivity: Specialized connectivity services for data center operators in Iceland, providing redundant and high-capacity connections to European networks

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Farice owns and operates three submarine fiber optic cable systems (FARICE-1, DANICE, and IRIS) connecting Iceland to Scotland, Denmark, and Ireland respectively, providing wholesale international connectivity services. The company delivers Leased Lines (Circuits), Ethernet Private Line (EPL) Services, and Global IP Transit to telecom operators, data center operators, and large enterprises, with combined network capacity of up to 182 Tb/s.

Product overview

Farice operates as a wholesale telecommunications provider offering submarine cable infrastructure and connectivity services. The company owns and operates three submarine cable systems: FARICE-1 (to Scotland, 2004), DANICE (to Denmark, 2009), and IRIS (to Ireland, 2023), providing up to 182 Tb/s combined capacity. Services include Leased Lines, Ethernet Private Line (EPL) Services, and Global IP Transit. The company also offers Point of Presence (POP) locations across Iceland (Reykjavik, Akureyri, Keflavik) and internationally (Dublin, London, Amsterdam, Frankfurt, Hamburg), plus a satellite backup route (Varaleiðin) for resilience. Farice serves telecom operators and data center customers in Iceland, Faroe Islands, and Greenland.

Differentiator

Problem solved

Functional benefit

Products and services

• FARICE-1 Submarine Cable System First submarine cable owned by Farice, connecting Iceland (Seyðisfjörður) to Scotland (Dunnet Bay) with a branch to Faroe Islands. Operational since January 2004, with maximum capacity of 10 Tb/s over two fiber pairs.
• DANICE Submarine Cable System Submarine cable connecting Iceland (Landeyjar) to Denmark (Blaabjerg, near Nørre Nebel). Operational since autumn 2009, with capacity of 40 Tb/s.
• IRIS Submarine Cable System Third submarine cable connecting Iceland (Þorlákshöfn) to Ireland (Galway), extending to Dublin. Operational since March 2023, with capacity of up to 132 Tb/s over six fiber pairs.
• Leased Lines (Circuits)

Quantifiable outcome

• Telecommunications security increased 10x with addition of third submarine cable
• +3 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and strategic.

• Aurora Telecom (Gas Networks Ireland)coreTechnology or Integration · 1 August 2022Farice purchased fiber pairs in Aurora Telecom's network that runs across Ireland for approximately 220km to Dublin. This enables IRIS cable to connect through Galway to Dublin's data centers using existing terrestrial fiber infrastructure.
• Far North Digital (FND)strategicStrategic or Co-development Partner · 8 July 2022Farice and Far North Digital signed a memorandum of understanding for joint marketing and sales agreement for fiber optic connectivity between Japan and Iceland. Farice's IRIS submarine cable provides connectivity between Iceland and Ireland, while FND's Pan-Arctic Fibre cable spans between Japan and Ireland, enabling end-to-end connectivity.
• CIENAcoreTechnology or Integration · 3 September 2021CIENA provides wavelength technology for IRIS system and has been upgrading DANICE cable system with WaveLogic 5 technology. The optical transmission equipment enables high-capacity data transport on Farice's submarine cables.
• SubComcoreTechnology or Integration · 5 April 2021SubCom is the manufacturer and installer of Farice's IRIS submarine cable system. Contract for supply and installation of the high-speed undersea cable connecting Iceland and Ireland was announced in April 2021. SubCom manufactured the cable at their headquarters in Newington, NH, USA and performed marine installation in summer 2022. SubCom previously worked on FARICE-1 cable system with end-to-end network delivery.
• BT WholesalecoreChannel Partner/ Reseller/ Distributor · 1 June 2019Farice partnered with BT Wholesale to provide new land routes from FARICE-1 landing station in Scotland to London. Two new routes of approximately 1700km each were established, enabling Farice to offer four diverse routes to London, significantly improving security on this critical route. BT provides connectivity from landing station to delivery points.
• EquinixcoreChannel Partner/ Reseller/ Distributor · 1 June 2019Equinix, one of the world's largest hosting companies, provides data center facilities in Slough (west of London) as a new delivery point (LN2) for Farice services. Farice's network is connected via Equinix and Telehouse, providing redundant connectivity options for customers.
• Faroese TelecomcoreStrategic or Co-development Partner · 1 October 2016Farice in cooperation with Faroese Telecom connected the Shetlands with a new 10Gbps link in October 2016. The diverse backhaul from Shetland to Northern Scotland is provided by Farice over the FARICE-1 submarine cable to Faroe Islands, extended from Faroe Islands to the Shetlands by Faroese Telecom using their Shefa submarine cable.

Scale indicators11 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Faroese Telecom: Operator of the SHEFA submarine cable system in the Faroe Islands and a Farice partner/customer. Operates subsea cables and purchases wholesale capacity from Farice; comparable regional subsea operator serving the North Atlantic.
• Cinia: Finnish state-owned operator of the C-Lion1 submarine cable connecting Finland to Germany, with planned extensions. Mirrors Farice's profile as a national state-owned subsea cable operator providing wholesale international capacity from a single Nordic country.
• Tampnet: Operates subsea fiber networks connecting offshore oil & gas platforms and offshore wind farms in the North Sea. Direct peer in submarine cable-based wholesale connectivity serving a niche high-value customer base.
• Aqua Comms: Aqua Comms owns and operates subsea cable systems (AEConnect, Havfrue/AEC-2) and sells wholesale capacity on the trans-Atlantic route. Direct competitor in subsea capacity wholesale, closely aligned business model and customer base (carriers, hyperscalers).
• Tele Greenland: Greenland's state-owned telecom operating the Greenland Connect subsea cable system and successor cables. Direct peer in North Atlantic subsea capacity, serving an adjacent isolated market and connecting to European landing points.

Broad incumbents

• euNetworks: Pan-European wholesale fiber carrier and subsea cable operator. Overlap on wholesale international capacity but operates a much broader European footprint across multiple countries.
• Sparkle (TIM): Telecom Italia's international wholesale arm operating multiple subsea cable systems (e.g., Seabras-1, Curie) globally. Provides comparable wholesale capacity services at much larger scale across many routes.

Others

• Prysmian Group: Global manufacturer of submarine fiber optic cable systems, including wet-plant. A leading supplier in the subsea cable ecosystem whose technology underpins operators including Farice.
• SubCom: US-based submarine cable manufacturer and marine installer; supplied and installed both FARICE-1 and IRIS for Farice. Critical vendor and ecosystem participant in the subsea cable value chain.

Emerging players

• Far North Digital: Planning the Pan-Arctic Fibre subsea cable system between Japan and Ireland. Signed MoU with Farice in 2022 for Japan–Iceland–Ireland connectivity. Comparable emerging subsea cable operator with overlapping architecture goals.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/farice

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Farice