MARCH 6, 2008 -- Lightower Fiber LLC, provider of digital fiber-optic networks, says it will acquire 100% of the outstanding shares of DataNet Communications Group Inc. It has also entered into an agreement to acquire KeySpan Communications, expanding its fiber-optic network offerings throughout the Northeast. With the addition of DataNet and KeySpan Communications' fiber assets, Lightower Fiber claims it more than triples its available route miles.
"With the recent establishment of Lightower Fiber as a unique entity, we are pleased that execution of our growth strategy is already well underway," reports Doug Wiest, CEO of Lightower LLC. "The combined network of DataNet and KeySpan Communications is an excellent geographic complement to ours, and we are well-positioned to take advantage of the market opportunity for fiber assets and backhaul services."
The consolidation of assets will extend Lightower Fiber's network availability to over 3,600 route miles connecting Boston, Albany, Manhattan, and Providence. Customers will benefit from DataNet's 1,600 route miles throughout New York State's Hudson Valley region, including service to communities in New Jersey and Connecticut, and KeySpan Communication's 1,000 route miles throughout New York City and Long Island, where the network covers both Suffolk and Nassau Counties. This extensive fiber network footprint now reaches key routes in Orange, Westchester, and Rockland Counties in NY, Bergen County, NJ, and Fairfield County, CT.
Lightower Fiber says it will also receive the rights to capacity in KeySpan Communication's three Trans-Atlantic cable systems from New York to Paris and London. With the addition of KeySpan Communiucation's network, Lightower Fiber will offer unique fiber-optic links between the Trans-Atlantic landing stations and points outside of New York City using routes diverse from Manhattan.
"The acquisitions of DataNet and KeySpan Communications build on our already well-established fiber network and solidify our footprint in the Northeast," notes Rob Shanahan, CEO of Lightower Fiber. "By connecting the three networks, Lightower Fiber is able to provide quicker, more flexible, comprehensive dark fiber and Ethernet backhaul services across a larger multi-state territory to wireless and telecommunications carriers, as well as our enterprise customers across the Northeast."
"We are excited to join forces with LightowerIFiber," adds John Pinto, COO of DataNet Communications. "We share a common business philosophy that makes us well-suited to become a substantial force in this industry, enabling us to better support the comprehensive needs of enterprise, telecommunications, and wireless customers in the communities we serve."
Lightower Fiber has completed the acquisition of DataNet Communications and expects to complete regulatory approval for KeySpan Communications in Q2 2008.
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