Time Warner Cable closes DukeNet acquisition

Cable MSO Time Warner Cable Inc. (NYSE:TWC) has closed its acquisition of fiber-optic network services provider DukeNet Communications, LLC from Duke Energy Corp. and Alinda Capital Partners. TWC announced it had reached a deal to acquire the fiber network assets for $600 million last October (see “Time Warner Cable to acquire DukeNet Communications”).

The deal extends TWC’s fiber-optic network resources by more than 8700 route miles in the U.S. Southeast, particularly North Carolina and South Carolina but including several other states as well (see "DukeNet expands network across four additional states").

“DukeNet and Time Warner Cable are perfect complements to each other and the customers we serve,” said Phil Meeks, executive vice president and COO for Business Services at TWC. “We welcome our new customers and look forward to serving their communications needs with our network’s expanded reach, additional product offerings, and enhanced level of customer service. We’re also very excited for our existing customers, as this additional fiber capacity will enable us to extend our fiber reach and help them connect to our network from more business locations.”

TWC’s Time Warner Cable Business Class (TWCBC) arm expects to connect new business customers looking for such services as voice, high-speed Internet, and cloud-enabled hosting via its new infrastructure. It also believes the fiber assets will attract carrier customers, particularly wireless providers seeking mobile backhaul options.

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