Pacnet History

With the 8 January 2008 operational merger and rebranding of Asia Netcom and Pacific Internet, we have created Asia’s leading communications provider with the largest regional footprint and the region’s most extensive submarine cable infrastructure.

Pacnet HistoryPacnet is all about Asia

Against a backdrop of explosive economic growth and increasing bandwidth demand in Asia is Pacnet, the region’s leading communications provider, formed from the operational merger of Asia Netcom and Pacific Internet.

The former Asia Netcom has its roots in Asia Global Crossing’s $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. Connect Holdings is a private investor group comprising of Ashmore Investment Management Limited, Spinnaker Capital Limited and Clearwater Capital Partners.

In 2007, Asia Netcom 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 leading telco-independent Internet Service Provider (ISP) in the Asia Pacific region. The company delivered a comprehensive suite of Internet data, voice and video services to corporate business and consumer customers. Pacific Internet started in 1989 as TechNet, the research and development network of the National University of Singapore. In 1999, the company listed on NASDAQ and continued to expand its footprint into Australia, Hong Kong, Thailand and Malaysia.

In 2007, Connect Holdings acquired majority of the shares of Pacific Internet, after which, Pacific Internet was delisted from NASDAQ. Connect Holdings was renamed Pacnet Limited in 2008 and completed the acquisition of the remaining shares of Pacific Internet in the fourth quarter of 2008.

Following the launch of Pacnet in 2008, the company has continued to grow aggressively throughout Asia.

In 2008, Pacnet expanded its presence in China through the formation of Pacnet Business Solutions (China), the first foreign-owned telecommunications equity joint venture in China with a license to offer IP VPN services to major cities across the country. That year, the company also announced its investment into its first trans-Pacific cable infrastructure EAC Pacific, which connects to its pan-Asia cable network EAC-C2C in Japan and enhances Asia to US connectivity.

Pacnet established its first Point of Presence (PoP) in Vietnam in Ho Chi Minh City in 2009. That year, the company also launched its new global customer service center in Kuala Lumpur, Malaysia. The new global customer service center features a state-of-the-art multimedia-enabled platform and provides 24 x 7 x 365 customer service in multiple languages.

In 2010, Pacnet obtained a Network Service Provider (NSP) license from the Malaysian Communications and Multimedia Commission (MCMC), paving the way for future expansion into Malaysia. Shortly after that, Pacnet, through its joint venture Pacific Internet India Pvt. Ltd. (Pacnet India), obtained National Long Distance (NLD) and International Long Distance (ILD) licenses from the Department of Telecommunications of India, setting the stage for providing businesses in India broader access to Pacnet’s suite of advanced telecommunications solutions.

Since the end of 2010, Pacnet has made strategic investments into expanding its data center capabilities by building advanced CloudSpace data center facilities with high-speed connectivity to Pacnet’s networks to complement its existing DataSpace data center facilities. Pacnet’s first CloudSpace data center, HKCS1, was launched in Hong Kong in November 2010, and this was soon followed by the launch of its Singapore CloudSpace data center, SGCS1, later that month. In February 2011, the company unveiled its new Sydney CloudSpace data center, SYCS1. These facilities have been complemented by its fourth and most advanced CloudSpace data center, HKCS2, in March 2012.

Pacnet also launched its content delivery network solution, Asia’s most extensive CDN deployment by a telecommunications service provider utilizing its wholly-owned network and hosting infrastructure, in 2011. Pacnet continues to grow its data center and content delivery capabilities in anticipation of Asia’s growing digital appetite.

In October 2012, Pacnet announced its transformation strategy to enter a new phase of accelerated growth and improved profitability. This includes developing an exclusive focus on the carrier and enterprise markets and a greater focus on utilizing its data center and network infrastructure assets to introduce new value added services.

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 $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 $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 $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 $402 million.

The year 2007 saw the completion of the operational merger of ANC’s EAC and C2C, another submarine cable network owned by the investor group – creating the region’s most extensive submarine cable network measuring 36,800 km.

History of Pacific Internet

Pacific Internet was the largest telco-independent Internet 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 $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.