Pacnet

Pacnet Limited

Type	Private
Industry	Telecommunications
Fate	acquired by Telstra in 2015.
Founded	Asia Pacific (2008)
Headquarters	Hong Kong, Singapore
Key people	Carl J. Grivner, CEO Brett Lay, CFO Andy Lumsden, CTO
Products	Broadband Internet, Fixed Network, Data Centers
Owner	Telstra
Number of employees	>1,400
Parent	Telstra
Website	http://www.telstraglobal.com/

Pacnet was a global telecommunications service provider between 2008 and 2015. It was formed from the operational merger of Asia Netcom and Pacific Internet on 8 January 2008. It was owned by a private investor group comprising Ashmore Investment Management Limited, Spinnaker Capital Limited and Clearwater Capital Partners. Its acquisition by the Australian telecommunications company Telstra was announced at the end of 2014, and completed in April 2015.

The company was headquartered in Hong Kong and Singapore, and had offices in Australia, China, India, Indonesia, Japan, South Korea, Malaysia, Netherlands, Philippines, Taiwan, Thailand and United States.

In 1999, Global Crossing, Microsoft and Softbank started Asia Global Crossing as a venture to build a US$2 billion cable system, East Asia Crossing (EAC), to connect key Asian markets. In 2000, Asia Global Crossing was listed on NASDAQ, before its listing was moved to NYSE in 2001.

Following the dotcom crash, Asia Global Crossing filed for bankruptcy protection in 2002, and was subsequently delisted from NYSE. To raise additional funding to continue operations, the company sold its assets to a consortium led by China Netcom, Newbridge Capital and Softbank Asia Infrastructure Fund for US$120 million, forming Asia Netcom.

In late 2003, China Netcom acquired 100 percent of Asia Netcom, and the wholly owned subsidiary became part of the China Netcom’s public listing on NYSE and SEHK in 2004.