Global Crossing buys Impsat
Global Crossing announced the US$336m purchase of Argentina-based Impsat in a major expansion of its IP services network in Latin America, reports Latin Business Chronicle. Impsat has an extensive IP-based intercity network, 15 metropolitan networks and 15 advanced hosting centers. Impsat had revenues of US$69.4m in the second quarter, an increase of 13% over the same period in 2005. Impsat will add more than 4,500 customers in Latin America as well as a local presence in the top seven South American economies. In September Global Crossing announced the opening of a new Point-of-Presence facility in Monterrey, Mexico. Blackstone Group is financial adviser, and Latham and Watkins LLP and Jorge Ortiz y Asociados are legal counsel to Global Crossing on Impsat deal.