AboveNet extends service reach into Toronto
AboveNet (NYSE: ABVT), which has entered into an agreement to be acquired by Zayo, continues to expand its network and its move into the lucrative Toronto market illustrates that ongoing trend for the fiber-centric service provider.
Rajiv Datta, chief operating officer at AboveNet, said "This expansion enables AboveNet to serve the high bandwidth network requirements of enterprises and data centers in Toronto and to provide connectivity to key markets in the U.S. and Europe."
It will provide its suite of MAN (Metro Area Network) and WAN (Wide Area Network) solutions, including Ethernet and optical wavelength services to both area businesses and service providers.
The timing of this expansion will provide not only new revenue streams for AboveNet, but also an alternative source for businesses and service providers that conduct business in Canada.
Gartner estimates that almost 40 percent of the Canadian telecom traffic passes through Toronto with a number of verticals such as finance, high tech, media and education having links with both the U.S. and Europe--two markets in which the service provider has an established network presence.
Similar to its recent expansion efforts in Atlanta, Edison, N.J. and San Francisco, this effort also includes data center connectivity. The service provider will connect to Cologix's key public data centers throughout Toronto.
- see the release
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