Global Crossing
US telecommunications company, 1997–2011 / From Wikipedia, the free encyclopedia
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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]
Industry | Telecommunications |
---|---|
Founded | March 1997; 27 years ago (1997-03) |
Defunct | October 3, 2011; 12 years ago (2011-10-03) |
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 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]