360networks and GiantLoop Network Inc. announced an alliance in which 360networks will be GiantLoop's preferred provider of North American and transatlantic broadband network services. In addition, 360networks has made a very minor equity investment in GiantLoop.

The alliance with 360networks enables GiantLoop to extend its managed optical services-called Enterprise Optical Networking-between major metropolitan areas in North America and Europe. Enterprise Optical Networking enables large enterprises to aggregate data and storage networking protocols on a single fiber optic network.

The two companies will build an end-to-end service that goes beyond connectivity by cooperating on network engineering and management, customer and operational support, and field activities with the goal of providing comprehensive support and services for large enterprise companies.

The two companies are also exploring additional business opportunities that could expand geographic coverage and provide comprehensive all-optical IP services.

About 360networks:

360networks (NASDAQ: TSIX and TSE:ETSX) offers broadband network and colocation services to telecommunications and data-centric organizations.

About GiantLoop Network:

GiantLoop Network builds and manages fiber optic networks that aggregate data and storage networking protocols that span campus, metropolitan, and inter-city networks.