Perseus Telecom

About Perseus Telecom

Perseus Telecom, founded in 2009 by Jock Percy, carved a niche in the telecommunications sector by providing high-speed, ultra-low latency global networks. The company was established to serve transatlantic businesses in North America and Europe, focusing on the demanding needs of the financial services industry. Percy, who served as CEO, brought a background as an economist and held various telecommunications roles, which shaped the company's direction. Andrew Kusminsky, another key figure, served as COO and Chief Strategy Officer, co-founding the company and spearheading network, engineering, and product development.

The firm's business centered on delivering managed network services, specializing in minimizing data transfer delays for time-sensitive operations. Its target clients included banks, hedge funds, high-frequency trading firms, and financial technology providers who require rapid and reliable connectivity to global exchanges. Perseus also served clients in media and digital commerce. Revenue was generated by providing these specialized connectivity solutions, which included co-location services in proximity to major financial markets. A significant milestone was the launch of QuanTA in 2012, a high-speed transatlantic network, and Europe's first commercial microwave network. The company expanded its global footprint through strategic acquisitions, such as Wholesale Global Services in 2010 and TLV Networks, a microwave connectivity provider.

Perseus' core offering was its ultra-low latency network, which connected over 100 markets and data centers worldwide. The company utilized a combination of fiber optic and microwave technologies to achieve the fastest possible connection speeds between key financial hubs like New York, Chicago, London, and Tokyo. For instance, it offered a microwave link between the CME and ICE exchanges in Chicago and operated Europe's first commercial microwave network connecting London and Frankfurt. This multi-technology approach ensured high reliability and minimized data transit times, a critical benefit for algorithmic and high-frequency traders where milliseconds can translate to significant financial gains or losses. In June 2017, Perseus was acquired by GTT Communications for $37.5 million, a move that integrated its specialized financial network into GTT's global Tier 1 IP backbone.