 | |
| Industry | Telecommunications |
|---|---|
| Founded | March 1997 |
| Defunct | October 3, 2011 |
| Fate | Acquired by Level 3 Communications which was acquired by CenturyLink (now Lumen Technologies) |
| Headquarters | Hamilton, Bermuda |
Key people | John Legere, CEO |
| Revenue | US$2.536 billion (2009) |
| -US$141 million (2009) | |
Number of employees | 5,235 (2009) |
| Footnotes / references [1] | |
Global Crossing Limited, was a telecommunications company that provided computer networking services and operated a tier 1 carrier. It maintained a large backbone network and offered peering, virtual private networks, leased lines, audio and video conferencing, long-distance telephone, managed services, dialup, colocation centres and VoIP. Its customer base ranged from individuals to large enterprises and other carriers, with emphasis on higher-margin layered services such as managed services and VoIP with leased lines. Its core network delivered services to more than 700 cities in more than 70 countries.[2]
Global Crossing was the first global communications provider with IPv6 natively deployed in both its private and public networks.[3] It was legally domiciled in Bermuda and had its administrative headquarters in New Jersey.[citation needed]
In 1999, during the dot-com bubble, the company was valued at $47 billion, but it never had a profitable year.[4][5] In 2002, the company filed for one of the largest bankruptcies in history and its executives were accused of covering up an accounting scandal.[6] On October 3, 2011, Global Crossing was acquired by Level 3 Communications for $3 billion, including the assumption of $1.1 billion in debt.[7]
- ^ "Global Crossing Limited Offer To Exchange Up To $750,000,000 12% Senior Secured Notes due 2015 which have been registered under the Securities Act of 1933 for any and all outstanding 12% Senior Secured Notes due 2015". U.S. Securities and Exchange Commission. Archived from the original on 2018-05-05. Retrieved 2018-05-05.
- ^ "Level 3 to Acquire Global Crossing" (Press release). Business Wire. April 11, 2011. Archived from the original on May 6, 2018. Retrieved May 5, 2018.
- ^ "Global Crossing Completes Acquisition of Impsat" (Press release). Thomas Register. May 22, 2007. Archived from the original on May 5, 2018. Retrieved May 5, 2018.
- ^ O'BRIEN, TIMOTHY L. (August 15, 2004). "A New Legal Chapter for a 90's Flameout". The New York Times. Archived from the original on 2015-05-28.
- ^ Stern, Christopher (January 29, 2002). "Global Crossing Files for Bankruptcy". The Washington Post. Archived from the original on May 5, 2018. Retrieved May 5, 2018.
- ^ Cite error: The named reference
324mwas invoked but never defined (see the help page). - ^ "Level 3 Completes Acquisition of Global Crossing" (Press release). PR Newswire. October 4, 2011. Archived from the original on May 5, 2018. Retrieved May 5, 2018.