An Essex-based company has been acquired in a £550 million deal.
From today Cable and Wireless, in Duke Street, Chelmsford, will join Bermuda-based Global Crossing, owner and operator of the first independent fibre optic network.
Cable and Wireless Global Marine will be the world's largest and most experienced submarine cable maintenance and installation company.
Global Marine Systems has a worldwide workforce of 1,200 people based in more than ten countries. The company says it plans to stay in the town and keep its head offices at the former Cable and Wireless building near Chelmsford railway station.
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