Feeds

Global Crossing eats Fibernet

Let's network

Beginner's guide to SSL certificates

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. ®

Intelligent flash storage arrays

More from The Register

next story
Azure TITSUP caused by INFINITE LOOP
Fat fingered geo-block kept Aussies in the dark
NASA launches new climate model at SC14
75 days of supercomputing later ...
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
Cloud unicorns are extinct so DiData cloud mess was YOUR fault
Applications need to be built to handle TITSUP incidents
NSA SOURCE CODE LEAK: Information slurp tools to appear online
Now you can run your own intelligence agency
BOFH: WHERE did this 'fax-enabled' printer UPGRADE come from?
Don't worry about that cable, it's part of the config
Stop the IoT revolution! We need to figure out packet sizes first
Researchers test 802.15.4 and find we know nuh-think! about large scale sensor network ops
DEATH by COMMENTS: WordPress XSS vuln is BIGGEST for YEARS
Trio of XSS turns attackers into admins
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Designing and building an open ITOA architecture
Learn about a new IT data taxonomy defined by the four data sources of IT visibility: wire, machine, agent, and synthetic data sets.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.