Neon, Globix merge

Northeastern carrier Neon Communications has announced a merger with Globix Corp., a publicly held provider of managed applications and hosting services. The deal would make Neon a public company, giving it access to more capital, which it will use to expand its network from Portland, Maine to Washington, D.C. "Neon is aware that it must remain in front of, and not behind, industry consolidation," the company said in a statement issued Tuesday. Neon expects the deal, which requires shareholder and regulatory approval as well as the registration of preferred and common stock, to be complete within 120 days.