Global Crossing to Invest in Jato
Global Crossing Ltd. said it will invest $5 million in Denver-based Jato Communications Corp. as part of a six-year, $30-million strategic alliance between the two telecommunications firms. As part of the partnership, Bermuda-based Global Crossing will supply Jato with high-capacity network services, Web hosting and data transmission. Jato, which specializes in Internet applications and access using digital subscriber line (DSL) technology, could allow Global Crossing to sell Jato’s high-speed services to businesses currently outside Global Crossing’s U.S. service areas. Global shares fell $3 to close at $55 on Nasdaq.