360networks Corp., a provider of telecommunications services, today announced it has completed its acquisition of D...
May 15, 2003
360networks Corp., a provider of telecommunications services, today announced it has completed its acquisition of Dynegy Inc.’s North American communications business for an undisclosed sum. The transaction has met all regulatory and other approvals.
With the finalization of the transaction, 360networks assumes Dynegy’s high-capacity broadband network spanning more than 16,000 route miles with 65 wholesale customers and access points in 44 U.S. cities. 360networks has also assumed Dynegy’s existing customer base, its remaining fiber leases, and its co-location facilities.
“Dynegy’s operations complement our U.S. network footprint and enhance our ability to provide high-quality data communications services to carriers and enterprises throughout North America," said Greg Maffei, 360networks’ chairman and CEO."
When the sale was announced earlier this spring, he said the volatility in the telecommunications industry continues to create consolidation opportunities for those with the right assets and financial backing.
The company’s optical mesh fiber network reaches 60 major cities in North America.