London based PacketExchange annnounced today that it will buy the assets of California based and fellow tier 2 network provider Mzima. These are two very similar companies, both focused on providing managed and unmanaged IP and Ethernet services out of major data centers. Each has had regional strength on their home turf, and their footprints are highly complimentary. Combined, they have a strong presence in both Europe and the US with footholds in Asia and Australia.
Mzima's CTO Grant Kirkwood will remain CTO of the combined company and manage the integration. Both companies are privately held and financial terms were not disclosed, but the transaction was managed by Redwood Capital. PacketExchange may not be done yet, this acquisition seems to indicate a desire for global scale and the backing to achieve it. We'll have to keep an eye out for further developments.
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