History
The company was, in 1950, a Canadian federal crown corporation called Canadian Overseas Telecommunications Corporation (COTC). In 1975 the COTC was renamed Teleglobe Canada. After the 1984 election, Prime Minister Brian Mulroney began the process of privatizing crown corporations and Teleglobe Canada was one of the target assets.
It was finally sold to a small telecommunications equipment maker Memotec Data Incorporated of Montreal in 1987 and Teleglobe Canada became a unit of its new owners. In 1992, Memotec changed its own name to Teleglobe Canada Incorporated.
In 2000 Teleglobe Inc. was acquired by Bell Canada Enterprises, or BCE, which had already owned 23%. In 2002, BCE terminated its relationship with Teleglobe. BCE is now defending several litigations arising out of its abandonment of the Teleglobe business.
It was then sold to two American buyers, New York City based Cerberus Capital LLP and Philadelphia based Ten-X Capital Partners LLC. Renamed again, it became Teleglobe International Holdings Limited with incorporation in Bermuda and its corporate office in Virginia.
In 2005, it was bought by the Indian industrial giant Tata Group.
During its life as a crown corporation and as part of Memotec Data, Teleglobe still maintained operations in Canada. Earth stations were located across Canada:
- Toronto, Ontario - Eglinton Avenue and Pharmacy Avenue (site owned by Bell); Milner Avenue and Morningside Avenue
- Weir, Quebec
- Montreal, Quebec
- Corner Brook, Newfoundland and Labrador
- Port Alberni, British Columbia
Head office was in Montreal and last located at Techno Park. Tata Communications Canada's head office is located at 1555 Rue Carrie-Derick in Montreal.
After the American buyout, the head office was in Reston, Virginia.
In February 2006, the company was renamed to Teleglobe, a VSNL International Company, a unit of VSNL International, in turn a unit of Tata Group.
Having lost the monopoly as a long distance carrier in 1997, Teleglobe is a diversified international telecommunications services with focus in voice, data and IP, and mobile signaling services.
In February 2008, Tata Communications announced that VSNL, VSNL International, Teleglobe, Tata Indicom Enterprise Business Unit and Cipris have been integrated under Tata Communications brand name.
Read more about this topic: VSNL International Canada
Famous quotes containing the word history:
“the future is simply nothing at all. Nothing has happened to the present by becoming past except that fresh slices of existence have been added to the total history of the world. The past is thus as real as the present.”
—Charlie Dunbar Broad (1887–1971)
“The history of literature—take the net result of Tiraboshi, Warton, or Schlegel,—is a sum of a very few ideas, and of very few original tales,—all the rest being variation of these.”
—Ralph Waldo Emerson (1803–1882)
“Free from public debt, at peace with all the world, and with no complicated interests to consult in our intercourse with foreign powers, the present may be hailed as the epoch in our history the most favorable for the settlement of those principles in our domestic policy which shall be best calculated to give stability to our Republic and secure the blessings of freedom to our citizens.”
—Andrew Jackson (1767–1845)