360networks Corp. has sewn up a deal to buy out flagging energy company
Dynegy Inc.'s North American telecommunications business for an undisclosed
sum.
Dynegy had ventured into the broadband and telecommunications field with a
fiber-optic system built on utility-line easements, but it abandoned the
business more than one year ago, when the next-generation fiber market went
bust.
360networks is picking up Dynegy's broadband network covering 16,000 route
miles, about 65 wholesale customers and network access points in 44 U.S.
cities.
"We are pleased to complete the acquisition of Dynegy's telecom business,"
said Greg Maffei, 360networks' chairman and CEO, in a prepared statement.
"Dynegy's operations complement our U.S. network footprint and enhance our
ability to provide high-quality data-communications services to carriers and
enterprises throughout North America," he added. "We welcome Dynegy customers to
360networks and look forward to providing them with exceptional
service."
