NMDG Acquires Magellan Network

New Millennium Development Group Inc. (NMDG; West Palm Beach, FL) has acquired Miami-based Magellan Systems Corp. for approximately $2.5 million in stock. An undersea fiber optic cable network, the Magellan System will provide enhanced data communications services to South America.

NMDG has also announced that Juan Zarco, the chairman of Magellan Systems, has joined the company as executive vice president of sales and marketing for Central, South, and Latin America.

New Millennium will continue to develop the 19,906-km Magellan cable network in efforts to create the first Internet Protocol (IP) backbone in the region that incorporates specific technology dedicated to handling IP traffic. The system, which circles South America, will have 10 landing points in Argentina, Brazil, Chile, Colombia, Peru, Panama, and Venezuela with city-to-city connectivity provided through backhaul services. The expected in-service date for the network is September 2001.

Edited by Kristin Keiser