Having atoned for its past sins, Global Double Crossing is back in the growth mode, and says it will buy FiberNet, a metro area network provider for about $96.1 million. It is no different from a recent buying spree by Level 3 Communications. Level 3 is trying to transform itself from a pure vanilla backbone provider to a more metro services company. That’s where the money is for now. Just a quick rundown of what has transpired since the telecom bubble burst in 2001.
New Level 3 = Level 3 + Looking Glass + WilTel Communications + Progress Telecom
New Qwest = Qwest + OnFiber
Verizon = Verizon + MCI
New AT&T = SBC + BellSouth (pending) + AT&T
Tata Telecom = VSNL + Teleglobe + Tyco
Reliance Communications = Reliance + FLAG Telecom
I am sure I am missing some, so let me know.
{"source":"https:\/\/gigaom.com\/2006\/08\/28\/internet-backbone-consolidation-continues\/wijax\/49e8740702c6da9341d50357217fb629","varname":"wijax_26ba80db2451feaecc9b04afef491ec1","title_element":"header","title_class":"widget-title","title_before":"%3Cheader%20class%3D%22widget-title%22%3E","title_after":"%3C%2Fheader%3E"}