History
Launched in January 2008 with the operational merger of Asia Netcom and Pacific Internet, Pacnet is backed by the long and illustrious history of these two pioneering Asian telcos.
The former Asia Netcom has its roots in Asia Global Crossing’s US$2 billion investment in building a next generation subsea cable network, EAC, to connect key markets in Asia. In 2003, the company was bought by a consortium led by China Netcom. With industry-leading growth and an unsurpassed portfolio of enterprise and carrier solutions, Asia Netcom was sold to Connect Holdings in 2006 and in 2007, merged with C2C, another cable network owned by the same investor group, to create the region’s largest submarine cable network EAC-C2C.
The former Pacific Internet Limited was the largest telco-independent Internet Communications Service Provider by geographic reach in the Asia Pacific region. The company delivers a comprehensive suite of Internet data, voice and video services to corporate business and consumer customers. Pacific Internet started in 1991 as TechNet, the research and development network of the National University of Singapore. In 1999, the company listed on NASDAQ and continued to further expand its footprint into Australia, Thailand and Malaysia. Connect Holdings acquired Pacific Internet in 2007.
The former Asia Netcom has its roots in Asia Global Crossing’s US$2 billion investment in building a next generation subsea cable network, EAC, to connect key markets in Asia. In 2003, the company was bought by a consortium led by China Netcom. With industry-leading growth and an unsurpassed portfolio of enterprise and carrier solutions, Asia Netcom was sold to Connect Holdings in 2006 and in 2007, merged with C2C, another cable network owned by the same investor group, to create the region’s largest submarine cable network EAC-C2C.
The former Pacific Internet Limited was the largest telco-independent Internet Communications Service Provider by geographic reach in the Asia Pacific region. The company delivers a comprehensive suite of Internet data, voice and video services to corporate business and consumer customers. Pacific Internet started in 1991 as TechNet, the research and development network of the National University of Singapore. In 1999, the company listed on NASDAQ and continued to further expand its footprint into Australia, Thailand and Malaysia. Connect Holdings acquired Pacific Internet in 2007.
History of Asia Netcom
Asia Netcom (ANC) has its roots in Asia Global Crossing (AGC), a venture by Global Crossing, Microsoft and Softbank. The three technology giants got together in 1999 and spent about US$2 billion to build a next generation cable system - EAC - to connect together all the key Asian markets.
AGC was subsequently listed on NASDAQ in 2000 and enjoyed some favor with investors during the height of the tech run in the late 90s. AGC moved its listing from NASDAQ to NYSE in 2001. Following the dotcom crash, Asia Global Crossing filed for bankruptcy protection and declared that it needed additional funding to continue operations. In 2002, AGC was delisted from NYSE.
AGC's assets soon attracted a consortium led by China Netcom (CNC), the second largest fixed line operator in China, and included Newbridge Capital and Softbank Asia Infrastructure Fund, who formed ANC and bought the assets for US$120 million.
It was also in 2002 that ANC enhanced its carrier-focused sales model with an industry leading Enterprise portfolio. Leveraging its strategic network assets, ANC provided a comprehensive portfolio of city-to-city connectivity, data communications and IP-based solutions and services to enterprises, ISPs and carrier customers, with a focus on the Asia Pacific region.
In late 2003, CNC took full control of ANC, which became its wholly-owned subsidiary. ANC became part of the CNC's public listing in 2004 on NYSE and SEHK, which raised some US$1.14 billion.
In 2006, CNC sold ANC to Connect Holdings Ltd., an investor group consisting of Ashmore Investment Management Limited, Spinnaker Capital Limited and Clearwater Capital Partners at US$402 million.
2007 was the year which saw the completion of the operational merger of ANC's EAC and C2C, another submarine cable network owned by the investor group - creating a 36,800 km submarine cable network capable of carrying 10.24 Tbps of capacity and making it the region's most extensive submarine cable network.
AGC was subsequently listed on NASDAQ in 2000 and enjoyed some favor with investors during the height of the tech run in the late 90s. AGC moved its listing from NASDAQ to NYSE in 2001. Following the dotcom crash, Asia Global Crossing filed for bankruptcy protection and declared that it needed additional funding to continue operations. In 2002, AGC was delisted from NYSE.
AGC's assets soon attracted a consortium led by China Netcom (CNC), the second largest fixed line operator in China, and included Newbridge Capital and Softbank Asia Infrastructure Fund, who formed ANC and bought the assets for US$120 million.
It was also in 2002 that ANC enhanced its carrier-focused sales model with an industry leading Enterprise portfolio. Leveraging its strategic network assets, ANC provided a comprehensive portfolio of city-to-city connectivity, data communications and IP-based solutions and services to enterprises, ISPs and carrier customers, with a focus on the Asia Pacific region.
In late 2003, CNC took full control of ANC, which became its wholly-owned subsidiary. ANC became part of the CNC's public listing in 2004 on NYSE and SEHK, which raised some US$1.14 billion.
In 2006, CNC sold ANC to Connect Holdings Ltd., an investor group consisting of Ashmore Investment Management Limited, Spinnaker Capital Limited and Clearwater Capital Partners at US$402 million.
2007 was the year which saw the completion of the operational merger of ANC's EAC and C2C, another submarine cable network owned by the investor group - creating a 36,800 km submarine cable network capable of carrying 10.24 Tbps of capacity and making it the region's most extensive submarine cable network.
History of Pacific Internet
Pacific Internet was the largest telco-independent Internet Communications Service Provider by geographic reach, in the Asia Pacific region.
It started in 1989 as TechNet, a research and development computer network for use by academia at the National University of Singapore.
In 1995, a Singapore conglomerate Sembawang Group, planned the introduction of Internet access in Singapore and the region after noting the significant progress made in the US in this industry. It established SembMedia, which eventually purchased TechNet and commercialized its services in September 1995 with the launch of Pacific Internet Corporation Pte Ltd in Singapore.
The following year, the group expanded into Hong Kong via an acquisition and in 1997, commenced its Philippines operations through a local partner and eventually acquired an equity stake in its local partner a year later.
Pacific Internet launched its initial public offering of shares on NASDAQ on 5 February 1999 at a price of US$17 per share and was one of a handful of Singapore-based companies to have listed on the NASDAQ.
Further down south, Pacific Internet started its Australian operations with the acquisition of two ISPs in 1999. By 2000, further acquisitions of Australian ISPs brought Pacific Internet into six major cities in Australia.
Pacific Internet India, a joint venture unit of Pacific Internet Ltd, was launched in 1999, and subsequently expanded into major Indian cities.
The year 2000 marked Pacific Internet’s foray into Thailand, where it made another acquisition and started its Thailand operations.
In 2002, Pacific Internet set up operations in Malaysia, giving the telco a direct presence in seven countries in the Asia Pacific region, with more than 30 points of presence in these markets.
It started in 1989 as TechNet, a research and development computer network for use by academia at the National University of Singapore.
In 1995, a Singapore conglomerate Sembawang Group, planned the introduction of Internet access in Singapore and the region after noting the significant progress made in the US in this industry. It established SembMedia, which eventually purchased TechNet and commercialized its services in September 1995 with the launch of Pacific Internet Corporation Pte Ltd in Singapore.
The following year, the group expanded into Hong Kong via an acquisition and in 1997, commenced its Philippines operations through a local partner and eventually acquired an equity stake in its local partner a year later.
Pacific Internet launched its initial public offering of shares on NASDAQ on 5 February 1999 at a price of US$17 per share and was one of a handful of Singapore-based companies to have listed on the NASDAQ.
Further down south, Pacific Internet started its Australian operations with the acquisition of two ISPs in 1999. By 2000, further acquisitions of Australian ISPs brought Pacific Internet into six major cities in Australia.
Pacific Internet India, a joint venture unit of Pacific Internet Ltd, was launched in 1999, and subsequently expanded into major Indian cities.
The year 2000 marked Pacific Internet’s foray into Thailand, where it made another acquisition and started its Thailand operations.
In 2002, Pacific Internet set up operations in Malaysia, giving the telco a direct presence in seven countries in the Asia Pacific region, with more than 30 points of presence in these markets.
