Experts: AboveNet Is Attractive Target for Acquisitors

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Experts: AboveNet Is Attractive Target for Acquisitors Experts: AboveNet Is Attractive Target for AcquisitorsExperts: AboveNet Is Attractive Target for Acquisitors


28 May 2011

AboveNet, a competitive provider of fiber-based network services, can be a possible target for potential acquisitions.
AboveNet is attractive to buyers because the company is indeed profitable and doesn’t have as much debt as Level 3 that is in the process of buying Global Crossing.
AboveNet reported revenues of $114.4 million in Q1 2011; it is up 17.7% in comparison with Q1 2010.
AboveNet can become an attractive asset for Tier 1 telcoms vendors such as Verizon and AT&T building out networks in order to support the burgeoning need for cloud-based services and data center.
Until now neither Verizon nor AT&T make comments concerning interest in purchasing.

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