Feeds

Global Crossing eats Fibernet

Let's network

Reducing the cost and complexity of web vulnerability management

US-based bespoke IP networker Global Crossing has acquired UK firm Fibernet for £49.8m in an all-cash deal.

Global Crossing's subsidary GC Acquisitions UK has its hands on 91 per cent of Fibernet stock, meaning it will be able to acquire the rest through compulsory purchases.

Fibernet's shareholders are bagging 78 pence per share in the deal, which will see the combined company have a broader presence, with government contracts from Global Crossing, and enterprise punters in Fibernet's portfolio. The two have long been partners, with Fibernet the more customer service-oriented and Global Crossing more focused on equipment.

Global Crossing CEO John Legere said: "The addition of Fibernet makes us an even stronger competitor, both in the UK and globally.

"This acquisition will further accelerate the performance of our 'invest and grow' segment with the addition of Fibernet's valuable enterprise and internet service provider customers and the opportunity to serve their future requirements with Global Crossing's broader portfolio of innovative IP solutions."

The buy-up is expected to add around £43m to Global Crossing's revenues, with consolidation savings of up to £5.4m when integration is done and dusted in 12 to 18 months. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Wanna keep your data for 1,000 YEARS? No? Hard luck, HDS wants you to anyway
Combine Blu-ray and M-DISC and you get this monster
US boffins demo 'twisted radio' mux
OAM takes wireless signals to 32 Gbps
Apple flops out 2FA for iCloud in bid to stop future nude selfie leaks
Millions of 4chan users howl with laughter as Cupertino slams stable door
Students playing with impressive racks? Yes, it's cluster comp time
The most comprehensive coverage the world has ever seen. Ever
Run little spreadsheet, run! IBM's Watson is coming to gobble you up
Big Blue's big super's big appetite for big data in big clouds for big analytics
Seagate's triple-headed Cerberus could SAVE the DISK WORLD
... and possibly bring us even more HAMR time. Yay!
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.