Posted on 11.12.2009 - 13:30 EST in ACQUISITION/MERGER NEWS by Rons_ROV_Links
Pacific Crossing Limited, the operator of the most reliable trans-Pacific undersea cable network, PC-1, announced that the acquisition of 100% of its shares by NTT Communications Corporation (NTT Com), previously announced on May 25th, was successfully completed on Friday October 23rd.
NTT Com, with the completion of the deal, will control the PC-1 trans- Pacific cable. PC-1 provides unmatched reliability and low latency between Japan and the United States. By combining PC-1 capacity with NTT Com's vast domestic and international network, NTT Com can offer customers, both in the enterprise and carrier markets, the highest quality network services between Asia, Japan and the United States.
NTT Com will retain the Pacific Crossing management team and Pacific Crossing will continue as a business within the NTT Com group selling network capacity in the wholesale carrier marketplace. Pacific Crossing's customers will see an immediate extension of network reach beyond PC-1 with extended domestic capability in Japan and the US as well as the ability to leverage NTT Com's international network to offer turnkey solutions for Asia to US connectivity.
"We are extremely excited about what the future holds for Pacific Crossing and our existing and future customers now that we are part of NTT Communications," said Pacific Crossing's President and CEO Mark Simpson. "The majority of traffic between Asia and the US transits through Japan and this will continue to be the case. With so much content being delivered between Asia and the US, and with Japan as the primary interconnection point, NTT Com's huge Japan domestic and international network reach will allow our trans-Pacific customers unparalleled access to all of Asia."