Feeds

Global Crossing eats Fibernet

Let's network

Secure remote control for conventional and virtual desktops

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. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
BOFH: WHERE did this 'fax-enabled' printer UPGRADE come from?
Don't worry about that cable, it's part of the config
Azure TITSUP caused by INFINITE LOOP
Fat fingered geo-block kept Aussies in the dark
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
Want to STUFF Facebook with blatant ADVERTISING? Fine! But you must PAY
Pony up or push off, Zuck tells social marketeers
The cloud that goes puff: Seagate Central home NAS woes
4TB of home storage is great, until you wake up to a dead device
Yahoo! blames! MONSTER! email! OUTAGE! on! CUT! CABLE! bungle!
Weekend woe for BT as telco struggles to restore service
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.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
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.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.