Business acquisition

Intermedia Communications of Florida Inc., Tampa, has acquired Fibernet USA and Fibernet Cincinnati, a fiber-based competitive access provider. With the completion of the transaction, which was valued at $14.5 million, Intermedia acquired fiber-optic networks in Cincinnati and in Raleigh/Durham/Research Triangle Park, NC. Also included in the package are networks under development in St. Louis, MO, and Huntsville, AL.