Global Crossing has completed its $US850 million acquisition of Cable & Wireless Global Marine, a submarine cable installation and maintenance venture that was purchased from Cable & Wireless.
Global Crossing's new unit will now be called Global Marine Systems, the company announced on Monday, saying that Global Marine is the largest company of its kind globally with 15 cable ships, 22 submersible vehicles and three installation barges, and maintains more than a third of the kilometres of undersea cable.
The deal will allow Global Crossing to better control progress on its undersea global network, according to company president William Carter, who also is chairman of Global Marine. The Hamilton, Bermuda-based Global Crossing is building a massive worldwide IP (Internet protocol) fibre optic network for the Internet, voice, video and data. The company expects the network to reach five continents and handle 80 per cent of international network traffic.
In other Global Crossing news announced on Monday, the company said that its wholly owned subsidiary, Global Crossing Ireland, has signed a deal with the Irish government to install an undersea fibre optic cable system linking Irish companies and multinationals to cities in Europe and around the globe.
Under terms of the $80 million deal, Global Marine Systems will handle installation and maintenance for the undersea section of the network.