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WorldCom grew largely by acquiring other telecommunications companies, including MCI Communications in 1998, and filed for bankruptcy in 2002 after an accounting scandal, in which several executives, including CEO Bernard Ebbers, were convicted of a scheme to inflate the company's assets.
Verizon said the acquisition would accelerate its plans to become a significant player in the enterprise services market, giving it a broader reach globally plus a suite of advanced IP-based services and a large base of business and government customers.
MCI Communications Services, Inc., doing business as Verizon Business Services, provides wireless services. The Company offers long-distance, local, wireless telecommunications, and information technology services. Verizon Business Services serves customers in the United States.
About WorldCom WorldCom was a leading communications company that was acquired by Verizon Communications in January 2006. Known as MCI at the time of the merger, WorldCom's network assets are now part of Verizon Enterprise Solutions. WorldCom was originally founded in 1983 as Long Distance Discount Service, Inc.
MCI Communications Corporation (originally Microwave Communications, Inc.) was a telecommunications company headquartered in Washington, D.C. that was at one point the second-largest long-distance provider in the United States.
The company was acquired by WorldCom (later called MCI Inc.) in 1998. Due to a large scandal, it declared bankruptcy and eventually broke itself from WorldCom ownership. It never fully recovered and eventually sold to Verizon in 2006.