AboveNet
AboveNet was a U.S.-based provider of high-bandwidth fiber-optic telecommunications circuits and network infrastructure for enterprises and communications carriers.
Last updated August 25, 2026
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Overview
AboveNet was an American telecommunications infrastructure company that built and operated private fiber-optic networks for large enterprises, Internet service providers, data centers, and communications carriers. Its business was centered on high-bandwidth connectivity rather than consumer telecommunications, with services and network assets supporting metropolitan access, long-distance connectivity, dark fiber, optical transport, Internet protocol services, and interconnection. The company was founded in 1993 by Sherman Tuan as AboveNet. Its early activities focused on so-called one-hop Internet connectivity and the provision of dark fiber to communications carriers in the United States and Europe. AboveNet later expanded through acquisitions and corporate combinations, including the purchase of PAIX, an operator of Internet peering exchanges. In June 1999, Metromedia acquired Abovenet Communications, and the combined company adopted the name Metromedia Fiber Network in 2000. During the telecommunications and Internet investment boom, the business broadened its footprint and corporate scope. It acquired M.I.B.H., a networking consultancy associated with Paul Vixie, in 2000, and SiteSmith, a managed web-hosting provider, in 2001. The company also received major financing from Verizon, including convertible bonds and common-stock investment. These expansion efforts occurred during a period of aggressive valuation and network-asset investment across the communications sector. Metromedia Fiber Network filed for bankruptcy in May 2002. It emerged from bankruptcy in September 2003 and changed its name back to Abovenet, later commonly styled as AboveNet. Following the restructuring, Craig McCaw, Franklin Mutual Advisers, and John Kluge were among its significant shareholders. The reorganized company returned its focus to fiber-based network infrastructure and carrier- and enterprise-oriented connectivity. AboveNet operated in 17 U.S. markets and four European markets according to the referenced encyclopedia account. Its private optical network served customers in industries including financial and legal services, media, health care, retail, and government. The company also sold or transferred selected network-related assets during a period of industry consolidation. In 2006, Digital Realty acquired the company's East Coast data centers, while in 2007 AboveNet acquired fiber assets from AT&T and Verizon that those companies were divesting in connection with antitrust requirements. On July 2, 2012, Zayo Group acquired AboveNet for $2.2 billion in cash. The transaction brought AboveNet's fiber network, customer relationships, and related infrastructure into Zayo's communications network platform. AboveNet consequently ceased operating as an independent corporate brand. The available reference material does not establish a separate continuing consumer-facing brand after the acquisition.
History
AboveNet was founded in 1993 by Sherman Tuan as a provider of specialized Internet and fiber-network services. Its initial business concentrated on one-hop Internet connectivity and dark fiber supplied to communications carriers in the United States and Europe. This positioned the company within the emerging market for independent network infrastructure, where carriers and large organizations sought bandwidth and connectivity without building every segment of their networks themselves. Abovenet Communications became a public company through an initial public offering in December 1998. During the dot-com boom, its shares rose sharply in March 1999 after the company announced a stock split. The period was characterized by rapid investment in fiber networks, Internet exchanges, hosting, and related telecommunications assets. In June 1999, Metromedia acquired Abovenet Communications, including its PAIX subsidiary, which operated Internet peering exchanges. After the transaction, the company changed its name to Metromedia Fiber Network in 2000. The enlarged business pursued both organic network expansion and acquisitions. In 2000 it acquired M.I.B.H., a networking consultancy operated by Paul Vixie, for cash and stock. Verizon also made a substantial investment in the company in 2000 through convertible bonds and common stock. In 2001, Metromedia Fiber Network acquired SiteSmith, a managed web-hosting company, in a stock transaction. These transactions reflected the broad communications-platform strategy of the period, combining fiber transport with hosting, consulting, and Internet interconnection capabilities. The telecommunications downturn and collapse of the dot-com investment cycle placed pressure on the company's finances. Metromedia Fiber Network filed for bankruptcy in May 2002. It emerged from bankruptcy in September 2003 and changed its name to Abovenet. After restructuring, Craig McCaw, Franklin Mutual Advisers, and John Kluge were identified among its largest shareholders. The post-bankruptcy business became more focused on operating and commercializing fiber infrastructure for enterprise and carrier customers. The company operated a private optical network serving 17 U.S. markets and four European markets. Its customer base included large corporate enterprises, Internet service providers, data centers, and communications carriers. The network supported organizations in financial and legal services, media, health care, retail, and government, illustrating the breadth of demand for high-capacity private connectivity. Its offerings included telecommunications circuits, dark fiber, optical networking, Internet protocol services, and metropolitan and long-haul connectivity. AboveNet continued to participate in the restructuring of the telecommunications infrastructure market. In 2006, Digital Realty acquired the company's East Coast data centers. In 2007, AboveNet acquired fiber from AT&T and Verizon that those companies were selling to comply with antitrust requirements. These transactions helped AboveNet concentrate on network assets and expand its fiber footprint while the large incumbent carriers divested selected facilities or routes. On July 2, 2012, Zayo Group acquired AboveNet for $2.2 billion in cash. The transaction transferred AboveNet's network assets and operating business into Zayo's broader communications infrastructure organization. AboveNet therefore ceased to function as an independent company, and its business became part of the consolidation of specialized fiber and bandwidth providers. The available sources do not document a distinct post-acquisition consumer brand or a complete list of the company's successive executives.
- 2012
Acquisition by Zayo Group
[1]Zayo Group acquired AboveNet for $2.2 billion in cash, ending AboveNet's operation as an independent company.
- 2007
Fiber-asset acquisitions from incumbent carriers
[1]AboveNet acquired fiber assets from AT&T and Verizon that were being divested for antitrust-compliance reasons.
- 2006
East Coast data-center divestiture
[1]Digital Realty acquired AboveNet's East Coast data centers.
- 2003
Emergence from bankruptcy
[1]The company emerged from bankruptcy in September and changed its name to Abovenet.
- 2002
Bankruptcy filing
[1]Metromedia Fiber Network filed for bankruptcy protection in May amid the telecommunications-sector downturn.
- 2000
Name changes to Metromedia Fiber Network
[1]Following the Metromedia transaction, the company adopted the name Metromedia Fiber Network.
- 1999
Metromedia acquisition
[1]Metromedia acquired Abovenet Communications, including the PAIX Internet peering-exchange subsidiary.
- 1998
Initial public offering
[1]Abovenet Communications became a publicly traded company through an initial public offering in December.
- 1993
AboveNet is founded
[1]Sherman Tuan founded AboveNet, initially focusing on one-hop Internet connectivity and dark fiber for communications carriers.
Products and positioning
A carrier-neutral, fiber-optic infrastructure provider focused on high-bandwidth connectivity for large enterprises, Internet service providers, data centers, and communications carriers.
Telecommunications infrastructure
High-bandwidth telecommunications circuits
AboveNet supplied high-capacity telecommunications circuits primarily to large enterprises, Internet service providers, data centers, and communications carriers. These circuits provided dedicated connectivity between business locations, network facilities, and carrier points of presence, supporting bandwidth-intensive and latency-sensitive applications.
Fiber-optic infrastructure · 1993
Dark fiber
Dark fiber was a core part of AboveNet's original carrier-oriented business. Customers could obtain access to unlit optical fiber and use their own transmission equipment, giving communications operators and large organizations greater control over capacity, network design, and future bandwidth expansion.
Optical networking
Private optical network services
AboveNet operated a private optical network that delivered optical transport and related network services across metropolitan and intercity routes. The infrastructure was designed for enterprise and carrier use, including interconnecting offices, data centers, network exchanges, and other critical communications sites.
Internet interconnection · 1999
Internet peering exchange services
Through PAIX, AboveNet's corporate predecessor operated Internet peering exchanges. These facilities enabled networks and service providers to exchange traffic directly, reducing dependence on transit arrangements and improving the efficiency of Internet interconnection.
Network connectivity
Enterprise and carrier network connectivity
The company's broader connectivity portfolio served enterprises, carriers, Internet service providers, and data centers across U.S. and European markets. It combined metropolitan access, long-haul transport, optical networking, and Internet protocol services for customers requiring private, high-capacity links.
Brand decisions
2012
Zayo Group acquires AboveNetM&ABackground
Telecommunications infrastructure companies were consolidating fiber routes, network assets, and enterprise connectivity platforms.
Action taken
Zayo Group acquired AboveNet in an all-cash transaction valued at $2.2 billion.
Aftermath
AboveNet ceased operating as an independent company and its network resources became part of Zayo Group's communications infrastructure platform.
Acquisition consideration. $2.2 billion cash transaction (2012)
2002
Bankruptcy filing and restructuringOtherBackground
The company faced financial pressure following the telecommunications downturn and the collapse of the dot-com investment cycle.
Action taken
Metromedia Fiber Network filed for bankruptcy protection in May 2002.
Aftermath
The company emerged in September 2003 under the Abovenet name, with a refocused fiber-network infrastructure business.
1999
Metromedia acquires Abovenet CommunicationsM&ABackground
Metromedia pursued expansion in fiber networks and Internet infrastructure during the rapid growth of the telecommunications and dot-com markets.
Action taken
Metromedia acquired Abovenet Communications and its PAIX Internet peering-exchange subsidiary.
Aftermath
The combined business subsequently adopted the name Metromedia Fiber Network.
Sources1 sources
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