International communications backbone player Level 3, which acquired bankrupt carrier Genuity last year, has launched a fibre-optic service in Dublin linking the city with 21 European markets and a further 77 markets in North America, siliconrepublic.com has learned.
International virtual private network (VPN) carrier Genuity, which had offices in Dublin, was acquired last year by Nasdaq listed comms and IT firm, Level 3 for US$242m, in what appears to have been a financial rescue package. To enable the acquisition to happen, various subsidiaries of Genuity had to file voluntary petitions for bankruptcy under Chapter 11 of the US Bankruptcy Code.
Genuity established an office in Ireland in 2000 and operates a point-of-presence (PoP) at CityWest Business Park. The acquisition, subject to financial adjustments, was approved by Genuity’s two largest creditors; a consortium of banks that provide the company with a line of credit, and Verizon Communications, which provides Genuity with its own separate line of credit.
This afternoon Level 3 revealed that its first service offering in Dublin and Manchester went live. Level 3’s fibre-optic network spans 23,000 route miles and serves 21 of the largest markets in Europe, as well as 77 markets across North America. Level 3 also has network capacity on high-speed transatlantic cable systems.
“Both Dublin and Manchester have become key markets for communications services in Europe,” said Brady Rafuse, president of Level 3’s European operations. “We acquired network infrastructure into both cities through our acquisition of Genuity assets last year, and we’re pleased that we can leverage that capacity now to serve growing demand for services from communications companies operating in Ireland and the UK.”
By John Kennedy