BCE Closes Teleglobe Acquisition
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[Montreal, CANADA] Teleglobe, an established provider of global Internet services, has completed its transaction with BCE (TSE: BCE), Canada's largest communications company. BCE acquired all of the outstanding shares of Teleglobe.
The deal marks the repositioning of Teleglobe as a major provider of global data and Internet services and coincides with the recent restructuring of BCE which positions Teleglobe as BCE's strategic initiative into the global market for connectivity, hosting, and content distribution services.
Teleglobe's multi-gigabit capacity backbone maintains extensive public and private peering arrangements globally, providing customers in over 110 countries with one-hop connectivity for fast access to Internet content.
"Teleglobe will prove to be invaluable to all players in the Internet services market -- Internet Service Providers, Internet Content Providers, Application Service Providers, Carriers and global enterprises," said Jean C. Monty, chairman and chief executive officer of BCE as well as chairman of Teleglobe.
Teleglobe has already proceeded with the Company's new business plan, installing a new executive management team, pruning non-profitable service lines and customers, and ramping up engineering and sales staff to meet the growing needs of customers worldwide."
Teleglobe's Internet customer base already represents 11 percent of the world's Internet routes making Teleglobe among the top five Internet backbone providers in the world.
It is the largest provider of international Internet access to North America, and the largest provider of Internet access via satellite.
"Teleglobe recognizes the rising demand for global Web content delivery, applications, and commerce hosting services," said Berge Ayvazian, chief executive officer of the Yankee Group. "The financial support of BCE coupled with their expansive global network will provide the means to capitalize on this market opportunity."
Teleglobe operations are now headquartered in Reston, Virginia. More background on the company is available at: