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Globix and NEON Communications Merge

Globix Corp., a public company providing managed applications and hosted services to businesses, on Tuesday announced completing the acquisition of NEON Communications Inc.


Westborough, Mass.-based NEON provides optical networking to carriers and large enterprise customers in the Northeast and mid-Atlantic regions.


The new company has approximately 1,500 customers and generated combined revenue last year of $110 million, according to Globix.


For the fiscal year ending Sept. 30, 2004, Globix posted a loss from operations of $33.9 million and a net loss of $41.4 million. The company ended the period with $95.8 million in debt.


New York City-based Globix says its common stock has been approved for listing on the American Stock Exchange under the symbol GEX. The listing is subject to the company meeting certain conditions following the merger.


Globix owns a network in the U.S. and Europe, and operates Internet data centers in Atlanta, London, New York and Santa Clara, Calif.


Its competitors include such telecommunications companies as AT&T Corp. and BT, as well as IBM, EDS and Equinix Inc., among others.


Shares of Globix were listed this afternoon at $3.60 on the OTC Bulletin Board.



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