Founded in March 1997, Global Crossing Ltd. (“Global Crossing”) has the distinction of being the first independent provider of worldwide long-distance telecommunications facilities and services facilitated by an elaborate network of undersea digital fiber optic cable systems and related terrestrial backhaul capability. Global Crossing operated was something of a “carrier’s carrier,” offered varied pricing tiers and segmented products to licensed providers of global telecommunications services.
Global Crossing began its operations when it sought a contract for the purposes of building Atlantic Crossing (“AC-l”), a digital fiber optic cable system spanning well over 10,000 kilometers which would link the United States, the United Kingdom, the Netherlands, and Germany. after AC-1, Global Crossing continued its efforts, creating digital cable systems that linking the U.S, with Japan, while operating on North America’s east and west coast. After merging with Frontier Communications, which owned and oversaw a large terrestrial fiber optic network, Global Crossing became a unified worldwide provider of end-to-end telecommunications services.
Global Crossing completed its initial public offering about two years after being founded, with success. Soon thereafter, it emerged as the fastest company to reach a $40 billion market capitalization up to that time. It ceased to exist in October 2011 when it was acquired by Level 3 Communications. Among its many accomplishments during its existence, Global Crossing also became the first global communications provider with IPv6 natively deployed among its private and public networks.
Trimaran’s initial private equity fund was a founding investor in Global Crossing and exited its investment through the public equity markets.