The past couple years has seen the massive growth of the telecommunications giant, since Verizon Communications merged with MCI in 2006 to create Verizon Business. Its global enterprise revenue base grew 3.1 percent in 2007 compared with 2006. Meanwhile, Verizon's strategic services such as IP, Ethernet and managed services have lead to increased revenue growth, achieving a 25 percent increase from Q4 2006 to Q4 2007. 

Throughout the year, Verizon says it will invest in many network programs and enhancements around the world, focusing on the areas of China, India, Mexico, Brazil, Australia, Singapore, Hong Kong and Canada. The company says it is these global network enhancements will help increase network capacity, decrease provisioning time, reduce latency and improve reliability and efficiency.

For the second consecutive year, IT analyst firm Gartner (gartner.com) has placed Verizon in the Leaders quadrant, "Magic Quadrant for Asia/Pacific Network Service Providers, 2007. The Gartner Magic Quadrant evaluates the activities of a range of companies including international network services and multinational corporations. The company also made "Magic Quadrant for Global Network Service Providers, 2007" and "Magic Quadrant for Pan-European Network Service Providers, 2007".

Verizon Business also announced the signing of two significant customer contracts. The first is a three year, $350,000 agreement to upgrade Petersburg, Virginia city public schools with a new fiber-optic network, which will triple its current network capacity.

The second contract is with financial services provider Chevy Chase Bank in Bethesda, Maryland. Expanding on the companies existing 25-year relationship, the agreement will help link Chevy Chase Banks' over 350 branch offices with advanced voice and data services.

Last week, German application service provider Point Omega announced it selected Verizon Business to host its German call center operations.