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North American Network Operators Group Date Prev | Date Next | Date Index | Thread Index | Author Index | Historical Cogent picks up PSInet
Hello Nanog, Interesting news.... http://washington.bizjournals.com/washington/stories/2002/02/25/daily19.html Cogent Communications Group said Wednesday it will purchase PSINet's major U.S. assets, including part of the Ashburn, Va.-based Internet infrastructure company's customer base and network, certain equipment and three hosting facilities. The companies did not disclose the financial terms of the deal, nor would they provide specific details as to how much of PSINet's network the Washington-based high-speed Internet access provider wants to buy. Cogent (http://www.cogent.com) and PSINet (http://www.psinet.com) officials were not immediately available for comment. PSINet, which filed for Chapter 11 bankruptcy protection with more than $3 billion in debt late last spring, has been selling itself piece-meal -- including international assets in Latin America, Chile, Canada and Hong Kong -- ever since. Cogent's offer to buy part of PSINet's assets is also subject to bankruptcy court approval and requires a court-sanctioned auction. Thanks, David Ulevitch mailto:[email protected] Founder, EveryDNS.net http://www.everydns.net
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