For most readers (i.e. those in the USA) this is a holiday, but there are a few news items to catch up on that I didn’t get to last week:
Apparently, Masergy Communications (news, filings) won’t be joining the ranks of publicly traded network operators as last week the company postponed its IPO due to market conditions. As I noted last week, it was an opportunistic move – they don’t need the cash – and obviously their current shareholders saw they weren’t going to get their price and decided to wait for better weather. Private equity has been interested in such assets lately, but the public markets remain skittish I guess. Maybe they’ll be back later this year. Or maybe they’ve got a bidder in the wings…
intellifiber won a multi-million dollar contract for connectivity to that humongous data center complex QTS has been putting together down in Richmond. The Virginia market is Intellifiber’s home turf of course, having been a stronghold of both Cavalier and of Dominion Telecom back in the day. They’ll be building new routes for this one though, adding diverse, low latency routes from Richmond to both Culpeper and the major datacenter markets of northern Virginia.
And down in Australia, Pacnet (news) opened yet another data center facility to go along with those ‘data landing stations’ they’ve been building out over the past few quarters. This facility is located in the central business district of Sydney on Liverpool Street. The initial 5,920 square feet brings Pacnet’s total datacenter footprint above 100K square feet. When fully built out, the company says it will scale up to more than 41K square feet.
If you haven't already, please take our Reader Survey! Just 3 questions to help us better understand who is reading Telecom Ramblings so we can serve you better!
Categories: Datacenter · Financials · Metro fiber
Join Our LinkedIn Group
Gimme a break on Masergy – crappy Chinese dotcoms with no revenue model, and overlevered pro-cyclical LBOs are going public these days with NO problem.
Masergy isn’t going public becuase they can’t – there is no story to buy into – revenue, EBITDA or long term sustainability…
Skeptic you are DEAD on. No story and current mgmnt couldn’t make it happen. Someone has to leave over there.
all their secret sauce came from the Zephion acquisition in 2001 — 10 years ago… and they’ve done nothing since then except sweat those assets.. That, plus a bunch of CLEC dunderheads trying to run a global service provider = disaster
Stevo,
So funny you say that. I won’t sell them because of their executive team. How does being a CIO/COO give you the knowledge to take a company public? Ohh it doesn’t.