Level 3
Communications Inc. has acquired BusinessNet Ltd., a leading
London-based Internet Service Provider (ISP).
Terms of the stock deal were not released.
“The acquisition of BusinessNet significantly accelerates our entry into
the UK market,” said Colin Williams, Level 3 International’s chief
executive officer.
“Business Net has an established market within the London business
community. Business Net understands both Internet technologies and the UK’s
competitive telecommunications market.”
“Coupling Level 3’s global reach, network capability and proven management
team with our experienced
staff, client base and services focused solely on the business community
offers a unique opportunity to expand our London
customer base to a global field. We are confident that, together with Level
3, we can revolutionize IP-based services in the UK,” said Sydney O’Hara,
chairman of BusinessNet.
Last September, Level 3 Communications acquired miknet Internet Based
Services GmbH in Frankfurt, Germany. Williams said that like “miknet,
BusinessNet shares Level 3’s focus on bringing Internet service to business
users.”
Level 3 Communications is currently building the first international
network optimized for Internet protocol technology. The network will
include access in the United States, Europe, and Asia. Level 3
Communications has obtained leased access to cross-Atlantic cables and has
joined with several telecommunications companies to build a cross-Pacific
cable.
