The fiber operator on Friday said it plans to buy Long Island Fiber Exchange Inc. The deal marks the second Sidera has made since September, when it rebranded itself three weeks ago, Sidera bought colo provider Cross Connect Solutions. Now Sidera is returning to the fiber market to bulk up its assets. With the purchase of Long Island Fiber, Sidera will add 900 miles of fiber and 550 lit buildings in the New York metro area.
We are thrilled to bring the full power of Sideras superior network to carrier and enterprise customers on Long Island and in Westchester County,” Mike Sicoli, CEO of Sidera Networks, said in a prepared statement.
The deal marks yet another in a series of M&A transactions this year as the industry handles increasing bandwidth demands. Technologies including wireless backhaul are fueling fiber use.
Sidera expects to close the Long Island Fiber purchase by Dec. 31. Sidera did not say how much it paid.