Lightower adds Lexent Metro Connect to its acquisition cart
Less than a week after it wrapped up its purchase of Veroxity, Lightower Fiber Networks, is going to the M&A store again to purchase Lexent Metro Connect, a New York-based dark fiber provider.
By acquiring Lexent, Lightower will instantly expand its existing fiber footprint and customer base in the New York City region, including New Jersey.
Out of the deal, Lightower will add over 150 fiber route miles and over 200 commercial buildings to its network. In addition, Lightower will be able to add more low latency routes to serve the New York City and New Jersey financial exchanges and data center opportunity.
Rob Shanahan, President and CEO of Lightower said in a release that acquiring Lexent "is a natural fit for expanding Lightower's reach in the region," adding that "Lexent's network also offers many fiber routes that are optimized for ultra low latency solutions to the financial and media industries."
Although neither service provider revealed the terms of the deal, Lightower expects to close the acquisition after it gets necessary regulatory approvals in Q4 2010.
Lightower's move to acquire Lexent is one of several new deals that have emerged lately where competitive and even independent ILECs are strategically scaling up their respective fiber networks to stay competitive.
- see the release here
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