Cogent picks up PSInet

Wed Feb 27 16:31:25 UTC 2002

Hello Nanog,

Interesting news....

http://washington.bizjournals.com/washington/stories/2002/02/25/daily19.html

Cogent Communications Group said Wednesday it will purchase PSINet's
major U.S. assets, including part of the Ashburn, Va.-based Internet
infrastructure company's customer base and network, certain equipment
and three hosting facilities. The companies did not disclose the
financial terms of the deal, nor would they provide specific details
as to how much of PSINet's network the Washington-based high-speed
Internet access provider wants to buy. Cogent (http://www.cogent.com)
and PSINet (http://www.psinet.com) officials were not immediately
available for comment. PSINet, which filed for Chapter 11 bankruptcy
protection with more than $3 billion in debt late last spring, has
been selling itself piece-meal -- including international assets in
Latin America, Chile, Canada and Hong Kong -- ever since. Cogent's
offer to buy part of PSINet's assets is also subject to bankruptcy
court approval and requires a court-sanctioned auction.

Thanks,
 David Ulevitch                       mailto:davidu at everydns.net
 Founder, EveryDNS.net                http://www.everydns.net     