A bankruptcy court approved the sale of Pacific Crossing Ltd. and its subsidiaries (PCL) to Pivotal Telecom LLC, for $63 million. Pacific Crossing, a former subsidiary of Global Crossing, operates the PC-1 fiber optic telecommunications network connecting Japan with the United States. The undersea cable network was completed in 2000 at a cost of more than $1.35 billion. Pivotal Telecom is a new company formed by Phoenix-based Pivotal Private Equity.
http://www.pivotalgroup.com
- The Pacific Crossing cable features a self-healing bi-directional design. It currently operates at 180 Gbps capacity and could be upgraded to 640 Gbps. The network is approximately 20,900 kilometers or 13,000 miles in length. The system has landing stations in Grover Beach, California; Harbour Pointe, Washington; Ajigaura, Japan; and Shima, Japan
- Pivotal Telecom will be headed by Robert Woog, who previously was senior vice president for strategic global development for Global Crossing. Woog also was senior vice president of network development for IXnet, a New York City-based provider of IP-based network services,