AboveNet was a provider of high bandwidth telecommunication circuits primarily for large corporate enterprises and communications carriers in 17 markets in the United States and four markets in Europe. Its private optical network delivered key network and IP services and was used in financial and legal services, media, health care, retail, and government.
|Fate||Acquired by Zayo Group|
|Defunct||July 2, 2012|
|Headquarters||White Plains, New York|
|Revenue||$472 million (2011)|
|$72 million (2011)|
|Total assets||$911 million (2011)|
|Total equity||$647 million (2011)|
Number of employees
|Footnotes / references|
The company was formerly named Metromedia Fiber Network and changed its name to AboveNet in 2003 after emerging from bankruptcy.
In 2012, the company was acquired by Zayo Group for $2.2 billion in cash.
The company was founded in 1993 as National Fiber Network. It initially focused on providing dark fiber to communications carrier customers in the U.S. and Europe.
In 1997, the company changed its name to Metromedia Fiber Network.
In 1999, Metromedia acquired Abovenet Communications, including its subsidiary PAIX, an operator of Internet peering exchanges. Abovenet Communications had become a public company via an initial public offering in December 1998 and soared 32% in one day in March 1999 during the dot-com bubble after announcing a stock split.
In 2000, the company acquired M.I.B.H., a networking consultancy operated by Paul Vixie, for $51 million in cash and stock.
- "AboveNet, Inc. 2011 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- "Metromedia Fiber Network Plans To Buy AboveNet for $1.76 Billion". The Wall Street Journal. June 24, 1999.(subscription required)
- "Metromedia to Buy Abovenet for $1.55 Billion". The New York Times. Reuters. June 24, 1999.
- "Metromedia buys AboveNet". CNNMoney. June 24, 1999.
- "Abovenet to Split Stock". The New York Times. Dow Jones & Company. March 31, 1999.
- Romero, Simon (July 21, 2001). "Verizon May Write Down Big Fiber Optic Investment". The New York Times.
- "Metromedia buys SiteSmith". CNNMoney. October 10, 2000.
- "Metromedia Fiber Network Plans Acquisition of SiteSmith". Los Angeles Times. Reuters. October 11, 2000.
- Romero, Simon (May 21, 2000). "Metromedia Fiber Files for Bankruptcy". The New York Times.
- "AboveNet Emerges From Bankruptcy". The New York Times. Bloomberg News. September 9, 2003.
- "Digital Realty Trust, Inc. Acquires Datacenters in New York City and Northern Virginia From AboveNet" (Press release). PR Newswire. October 2, 2006.
- "AboveNet Acquires Metro Fiber from AT&T and Verizon" (Press release). Thomas Register. April 11, 2007.
- "Zayo Group closes on $2.3B buy of AboveNet". American City Business Journals. July 2, 2012.