BT Group plc has completed the acquisition of Infonet Services Corp., a California-based company providing global managed voice and data network services to corporate customers.
United Kingdom-based BT has renamed the company BT Infonet and it becomes part of BT Global Services.
BT said the agreement valued at $965 million would extend its global reach and deepen its presence in Asia Pacific and North America as a provider of IT and networking services to multisite firms and organizations. For the first nine months of the 2005 fiscal year, Infonet reported a net loss of $44.6 million on revenue of $472.7 million.
The management at Infonet led by Chief Executive Jose A. Collazo will remain to manage the business and help integrate the two customer bases and product sets.