XO to Spend $500M on Network Expansion

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XO Communications said today it's going to spend the next several years expanding its network throughout the country.

The Virginia-based competitive service provider said it will pay for the project with the $500 million it recently raised in a financing round.

“As unified communications, mobility and cloud initiatives become more critical to the success of our customers, XO is further enriching our private network," said Chris Ancell, CEO of XO.

Ancell also said the network will feature higher bandwidth availability and "more competitive pricing options to benefit our customers."

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