Lightower fiber Networks, a fiber optic network provider headquartered Boxborough, Massachusetts, finalized Fibertech Networks acquired $ 1.9 billion. The combined company will operate under the brand Lightower and serve customers across a coverage area nearly twice the size of each independent company.
The expanded service area Lightower Fiber Networks now lines the northern Mid-Atlantic and the US Midwest. The new network offers Lightower over 30,000 miles of fiber road giving access to more than 15,000 points of service, including more than 250 data centers, 500+ telco hotels and the central offices, 40 exchange financial, and over 5,000 wireless towers.
"Lightower is now the leading provider of all-fiber Illinois, Massachusetts, North Carolina, covering an area of the country with over 40% of the population of the United States," said Rob Shanahan, President and CEO of Lightower . "This merger accelerates strategy of continued expansion of Lightower and positions us as the leading solutions provider in 6 of the top 11 metro markets the nation."
The transaction, valued at $ 1.9 billion, was financed by a combination of equity and debt. existing donors Lightower Fiber Networks, Berkshire Partners, Pamlico Capital Partners and ABRY , each additional share provided to support the transaction. Further details of the financial transaction are not disclosed.
"This strategic merger was a natural choice for the network and the two companies," added Shanahan . "Both companies have deep roots in the first customer cultures, reflected in the service that is second to none in our industry. Of course, the service superior customer would not be possible without the most employees passionate and dedicated to the company. "
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