OCTOBER 30, 2009 -- Pacific Crossing Ltd., operator of the transpacific undersea cable network PC-1, announced that the acquisition of 100% of its shares by NTT Communications Corp. (NTT Com), previously announced on May 25, was successfully completed on Oct. 23, 2009.
With the completion of the deal, NTT Com will control the PC-1 transpacific cable. By combining PC-1 capacity with NTT Com's domestic and international network, NTT Com can offer customers in both the enterprise and carrier markets high-quality network services between Asia, Japan, and the United States.
NTT Com will retain the Pacific Crossing management team and Pacific Crossing will continue as a business within the NTT Com group, selling network capacity in the wholesale carrier marketplace. Pacific Crossing's customers will see an immediate extension of network reach beyond PC-1 with extended domestic capability in Japan and the U.S. as well as the ability to leverage NTT Com's international network to offer turnkey solutions for Asia to U.S. connectivity.
"We are extremely excited about what the future holds for Pacific Crossing and our existing and future customers now that we are part of NTT Communications," says Pacific Crossing's president and chief executive officer Mark Simpson. "The majority of traffic between Asia and the U.S. transits through Japan and this will continue to be the case. With so much content being delivered between Asia and the U.S., and with Japan as the primary interconnection point, NTT Com's huge Japan domestic and international network reach will allow our transpacific customers unparalleled access to all of Asia."