Lightower Fiber Networks has closed its acquisition of New York-based Lexent Metro Connect.
The merger whose financial terms were not disclosed, since both companies are privately held creates a bulked-up fiber network and bandwidth services provider in New York City and New Jersey. Massachusetts-headquartered Lightower specializes in fiber broadband for the financial and media verticals, while Lexent focuses on dark fiber connectivity among carrier hotels, central offices and enterprise buildings.
Lightower now owns more than 150 route miles throughout New York and New Jersey, as well as access to more than 200 commercial buildings, thanks to the Lexent takeover. Lightower already boasted 4,600 fiber-route miles throughout Connecticut, Massachusetts, New Hampshire, New Jersey, New York and Rhode Island.
Lexent customers get to use all of Lightowers network services as well as its service locations. Lightowers products include Ethernet, dark fiber, WDM wavelengths, Internet access, SONET and colocation.
Lightower Fiber Networks is backed by M/C Venture Partners, Pamlico Capital and Ridgemont Equity Partners.
The Lightower-Lexent transaction, first announced in September, closes as other fiber deals remain in the works. So far this year, CLEC PAETEC is buying Cavalier Telephone Corp., mostly for its fiber assets; nTelos has purchased FiberNet; Windstream has snapped up KDL-Norlight; and Zayo has absorbed American Fiber Systems. Fiber has regained popularity as fixed and wireless broadband consumption soars, thanks to factors such as Internet video and smartphones.
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September 24 2018 @ 18:15:10 UTC