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Broadband

Primus to buy Arbinet, sell certain European ops

Thursday 11 November 2010 | 15:29 CET | News
Telecom product and service provider Primus Telecommunications has entered into a definitive agreement to fully acquire global communications exchange service provider Arbinet for USD 28 million, in an all-stock transaction. The boards of directors of both companies have approved the merger, which is still subject to the usual regulatory approvals. The buy is expected to close in the first quarter. After completion, Primus will integrate Arbinet into its Global Wholesale group, which should add over USD 300 million in annual revenue and generate accretive cost synergies of USD 3-7 million

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Categories: Fixed
Companies: Arbinet / Primus Telecommunications
Countries: World
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