360networks

360networks was a Canadian-based wholesale telecommunications carrier focused on building and operating long-haul fiber-optic infrastructure. Its network strategy centered on connecting major North American markets through both dark fiber, which customers could light and operate themselves, and lit fiber services supplied with transmission capacity. Several of its routes followed railway rights of way, an approach that helped address one of the principal practical constraints on large-scale fiber deployment: securing corridors for cable construction. The business began as Pacific Fiber Link, L.L.C. in 1998 as a subsidiary of Ledcor Industries of Canada, part of the Ledcor Group of Companies. Its initial project focused on a fiber route between Seattle and Sacramento. The company subsequently negotiated access to Canadian National Railway rights of way and developed a specialized construction method known as the Railplow. Mounted on a railcar, the system was designed to excavate a narrow trench alongside railway tracks, install conduit for fiber-optic cable, and restore the corridor rapidly. A related patent was held by a subsidiary, while 360networks received a royalty-free exclusive license to use the technology. The company changed its name to Worldwide Fiber Networks, Inc. in 1999 as it broadened its ambitions beyond the initial route. In 2000 it adopted the 360networks name, reflecting management's stated intention to develop a globally oriented network. During the telecommunications and internet infrastructure boom, it attracted investments associated with Michael Dell, Nathan Myhrvold, Liberty Media, and News Corp. It also appointed Greg Maffei, formerly chief financial officer of Microsoft, as chief executive officer. The company went public in January 2000 and used acquisitions and construction programs to expand its infrastructure position. Expansion included the purchase of substantial equipment and networking space in Los Angeles, Atlanta, and Dallas, as well as the acquisition of approximately 11,000 miles of fiber-optic infrastructure from Call-Net Enterprises. The company also pursued international development and received a license in 2001 to own infrastructure in Japan. Its growth, however, took place amid a sharp reversal in telecommunications-market conditions. The company skipped a debt payment in early June 2001 and filed for bankruptcy protection in Canada and the United States on June 28, 2001. 360networks emerged from bankruptcy in November 2002. Its post-bankruptcy period included the acquisition of Group Telecom, the purchase of Dynegy's U.S. communications business, the acquisition of Touch America's assets out of bankruptcy, and the sale of selected assets to Qwest. In 2004 it sold its Canadian assets to Bell Canada for C$275 million. Greg Maffei left the chief executive role in 2005 to join Oracle Corporation but remained chairman for a period. The company ultimately ceased to exist as an independent carrier when Zayo Group acquired it in December 2011. Its principal legacy was a portfolio of long-haul fiber routes and related network assets integrated into a successor operator rather than a continuing standalone consumer brand.

360networks was established as Pacific Fiber Link, L.L.C. on February 5, 1998, by Ledcor Industries of Canada, a company within the Ledcor Group of Companies. It began business operations on May 31, 1998. The initial plan was to construct a fiber-optic route linking Seattle and Sacramento, but the company soon developed a broader North American strategy. A central operational problem for the telecommunications industry was obtaining rights of way for new fiber routes. 360networks addressed this by negotiating with Canadian National Railway to install cable alongside railway tracks. The railway-corridor model gave the company access to long linear routes while reducing the need to acquire separate parcels of land. It also supported the development of the Railplow, a rail-mounted construction system capable of excavating, installing conduit, and backfilling in a relatively rapid sequence. The Railplow patent was transferred to a subsidiary of the relevant companies, and 360networks received a royalty-free exclusive license to use the system. In 1999 the business became Worldwide Fiber Networks, Inc., reflecting its move toward a larger network concept. In 2000 it became 360networks Inc., while its American operating entity was named 360networks (USA) Inc. The company recruited Greg Maffei, formerly Microsoft's chief financial officer, as chief executive officer. It also obtained private-equity support associated with Michael Dell, Nathan Myhrvold, Liberty Media, and News Corp. The company undertook an initial public offering on January 2, 2000, at the height of the telecommunications infrastructure boom. The expansion program combined internal construction with acquisitions. In May 2000, 360networks acquired about one million square feet of space in Los Angeles, Atlanta, and Dallas for network equipment. In August it acquired approximately 11,000 miles of fiber-optic infrastructure from Call-Net Enterprises for $162.5 million. The company continued international development and received a license in May 2001 to own infrastructure in Japan. Its network included long-haul routes such as Chicago–New Orleans, Chicago–Denver, Chicago–Detroit, Chicago–New York, Seattle–Los Angeles, and Denver–San Francisco. These routes included dark and lit fiber capacity. The sector's downturn exposed the company's financial vulnerability. 360networks missed a debt payment in early June 2001 and filed for bankruptcy protection in both Canada and the United States on June 28. WL Ross & Co acquired a 12.5 percent interest in October 2002, and the company emerged from bankruptcy the following month. The restructured business acquired Group Telecom in November 2002, bought the U.S. communications business of Dynegy in May 2003, and sold assets to Qwest in November 2003. In January 2004 it acquired the assets of Touch America out of bankruptcy, while in May it sold its Canadian assets to Bell Canada for C$275 million. Maffei left the chief executive position in July 2005 to work for Oracle Corporation, although he remained chairman. The company's independent corporate life ended in December 2011, when Zayo Group acquired it. 360networks is therefore best understood as a historical wholesale network operator whose infrastructure and operations were absorbed into a later telecommunications platform.

• 2011

  Acquired by Zayo Group

  [1]360networksen.wikipedia.org

  Zayo Group acquired 360networks, ending its independent corporate operation.

• 2004

  Completes major asset transactions

  [1]360networksen.wikipedia.org

  The company acquired Touch America assets out of bankruptcy and sold its Canadian assets to Bell Canada for C$275 million.

• 2003

  Acquires Dynegy communications business and sells assets to Qwest

  [1]360networksen.wikipedia.org

  360networks expanded through the U.S. communications assets of Dynegy and subsequently sold assets to Qwest.

• 2002

  Emerges from bankruptcy

  [1]360networksen.wikipedia.org

  The company emerged from bankruptcy and acquired Group Telecom.

• 2001

  Files for bankruptcy protection

  [1]360networksen.wikipedia.org

  Following a missed debt payment, 360networks filed bankruptcy proceedings in Canada and the United States on June 28.

• 2000

  Adopts the 360networks name

  [1]360networksen.wikipedia.org

  The business adopted 360networks Inc. and renamed its U.S. entity 360networks (USA) Inc.

• 2000

  Initial public offering

  [1]360networksen.wikipedia.org

  360networks completed an IPO and traded in the United States and Canada.

• 2000

  Acquires Call-Net fiber infrastructure

  [1]360networksen.wikipedia.org

  The company acquired approximately 11,000 miles of fiber-optic infrastructure from Call-Net Enterprises.

• 1999

  Name changes to Worldwide Fiber Networks

  [1]360networksen.wikipedia.org

  The company changed its name as it shifted from an initial regional route toward a broader network strategy.

• 1998

  Pacific Fiber Link is founded

  [1]360networksen.wikipedia.org

  Pacific Fiber Link, L.L.C. was founded on February 5 as a Ledcor Industries subsidiary and began operating on May 31.

Wholesale telecommunications infrastructure provider specializing in long-haul fiber-optic routes and carrier-grade network connectivity.

• Telecom infrastructure · 1998

  North American long-haul fiber network

  360networks developed long-distance fiber-optic routes across Canada and the United States, including connections among Chicago, New Orleans, Denver, Detroit, New York, Seattle, Los Angeles, and San Francisco. The network used railway rights of way for many routes and supported wholesale carrier connectivity.

• Wholesale network service

  Dark fiber services

  The company provided access to unlit optical fiber, allowing wholesale customers and other network operators to install and manage their own transmission equipment. Dark fiber formed part of the long-haul infrastructure portfolio later absorbed through corporate and asset transactions.

• Wholesale network service

  Lit fiber services

  360networks also operated lit fiber capacity, meaning transmission infrastructure supplied with active optical equipment and usable network capacity. These services supported carrier-grade, long-distance telecommunications connections rather than consumer retail communications.

• Fiber deployment technology

  Railplow construction technology

  The Railplow was a rail-mounted construction system used to excavate alongside railway tracks, install conduits for fiber cables, and restore the trench. 360networks held an exclusive royalty-free license to use the patented technology, which supported rapid deployment along railroad corridors.

• 2011

  Sell the company to Zayo GroupM&A

  Background

  360networks remained a wholesale fiber-network business with routes and assets relevant to larger infrastructure operators.

  Action taken

  Zayo Group acquired the company in December 2011.

  Aftermath

  360networks ceased operating as an independent carrier and its network assets became part of Zayo's platform.

  Source

• 2004

  Sell Canadian assets to Bell CanadaM&A

  Background

  The company continued reshaping its post-bankruptcy asset portfolio through acquisitions and divestitures.

  Action taken

  It sold its Canadian assets to Bell Canada in May 2004.

  Aftermath

  The transaction reduced 360networks' Canadian asset base while the company continued operating other network businesses.

  Sale price for Canadian assets. C$275 million (May 2004 transaction)

  Source

• 2002

  Acquire Group Telecom after restructuringM&A

  Background

  Following its emergence from bankruptcy, 360networks pursued additional network assets and operating capabilities.

  Action taken

  The company acquired Group Telecom in November 2002.

  Aftermath

  The acquisition formed part of the company's post-bankruptcy expansion before later asset sales and the eventual Zayo transaction.

  Source

• 2001

  Enter bankruptcy protectionOther

  Background

  The company missed a debt payment in early June during a severe reversal in telecommunications-market conditions.

  Action taken

  It filed bankruptcy proceedings in Canada and the United States on June 28, 2001.

  Aftermath

  The company was restructured, received an investment from WL Ross & Co., and emerged from bankruptcy in November 2002.

  Source

• 2000

  Scale long-haul fiber infrastructure through construction and acquisitionsProduct launch

  Background

  Rapid growth in telecommunications infrastructure created demand for long-distance fiber routes and network capacity.

  Action taken

  360networks acquired network-equipment space in three U.S. cities and purchased approximately 11,000 miles of fiber infrastructure from Call-Net Enterprises.

  Aftermath

  The transactions enlarged the company's North American infrastructure footprint before the sector downturn and subsequent bankruptcy proceedings.

  Call-Net fiber infrastructure acquisition price. $162.5 million (August 2000 transaction)

  Source

• 1999

  Expand from an initial route to a broader networkStrategy

  Background

  After beginning with a proposed Seattle–Sacramento fiber route, the company sought to participate in a much larger telecommunications network opportunity.

  Action taken

  It changed its name to Worldwide Fiber Networks and redirected its stated focus toward a global network.

  Aftermath

  The broader strategy was followed by the 360networks rebranding, public-market expansion, and major infrastructure acquisitions.

  Source

1. 1360networksen.wikipedia.org