Mar 31, 2004 : Cogent Buys Carrier1 Network Assets
📅 - Cogent Communications (cogentco.com) announced on Wednesday that it has acquired the dark fiber and other network assets formerly belonging to Carrier1 International S.A. Cogent said the assets were acquired through a merger with Symposium Omega, Inc., who acquired the network from GLH GmbH, a German company who acquired the Carrier1 assets after it filed for bankruptcy. Financial terms of the deal were not disclosed.
Cogent said the acquisition adds 14 German markets to its pan-European network, including Berlin, Frankfurt and Munich. The carrier plans to offer low-priced Internet service in over 55 markets in Europe.
"To date, we have been very effective in picking up assets and customers at pennies on the dollar, and the Carrier1 acquisition is no exception," said Helen Lee, chief financial officer at Cogent. "Our ability to attract new customers based on our price points and quality of service has added maximum value to the assets we acquire."
Today's announcement comes on the heels of Cogent's January acquisition of the operating entities of LambdaNet Communications, which connected its US-based network to Spain and France.
"The Carrier1 network is a perfect complement to our acquisitions of LambdaNet France and LambdaNet Spain that took place in January," said Dave Schaeffer, CEO of Cogent Communications. "Now that our footprint is essentially complete in Europe, we will focus all our energy on capturing market share with our compelling combination of high quality data transit and transport services at prices that no other provider can match."
Cogent is completing the consolidation of its European and North American traffic under one autonomous system number, ensuring the absence of network hops for Internet traffic traveling anywhere on the Cogent network - European or American-bound.
Cogent said it plans to complete the launch of its European product set in the next few weeks.
Cogent said the acquisition adds 14 German markets to its pan-European network, including Berlin, Frankfurt and Munich. The carrier plans to offer low-priced Internet service in over 55 markets in Europe.
"To date, we have been very effective in picking up assets and customers at pennies on the dollar, and the Carrier1 acquisition is no exception," said Helen Lee, chief financial officer at Cogent. "Our ability to attract new customers based on our price points and quality of service has added maximum value to the assets we acquire."
Today's announcement comes on the heels of Cogent's January acquisition of the operating entities of LambdaNet Communications, which connected its US-based network to Spain and France.
"The Carrier1 network is a perfect complement to our acquisitions of LambdaNet France and LambdaNet Spain that took place in January," said Dave Schaeffer, CEO of Cogent Communications. "Now that our footprint is essentially complete in Europe, we will focus all our energy on capturing market share with our compelling combination of high quality data transit and transport services at prices that no other provider can match."
Cogent is completing the consolidation of its European and North American traffic under one autonomous system number, ensuring the absence of network hops for Internet traffic traveling anywhere on the Cogent network - European or American-bound.
Cogent said it plans to complete the launch of its European product set in the next few weeks.
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