European fiber-optic network services provider euNetworks Group Ltd. (SGX: 5VT.SI) has expanded its footprint into Switzerland with the acquisition of Vevey-based Fibre Lac S.A. Fibrelac operates approximately 360 km of dark fiber network infrastructure in the country.
Terms of the deal were not disclosed.
The new fiber-optic cable assets connect 11 Swiss cities, including Geneva, Zurich, Lausanne, Bern, and Basel. The network directly connects to five key data centers in Switzerland, with connections to other Swiss data centers offered via partners.
In addition to dark fiber, Fibrelac also offered design and construction, wavelengths, and Multi-Protocol Label Switching (MPLS) and Internet Protocol (IP) based services.
"The acquisition of Fibrelac is a natural extension of euNetworks' market leadership in Germany and also broadens the lit service offering available to Fibrelac customers across euNetworks’ European long-haul and densely fibered metropolitan footprint," said Brady Rafuse, CEO of euNetworks.
"This is a highly complementary business to euNetworks and delivers strong market presence for us with further value to be created," Rafuse continued. "Our leading position serving the financial services community will also be strengthened with this acquisition. As we quickly work through integration, connecting the networks to realize synergies and grow revenues, we as ever remain focused on delivering a great service to all of our customers. We highly value Fibrelac’s strong presence in Switzerland and plan to maintain local sales representation going forward."
"By joining euNetworks we will be able to offer our customers greater service options across a wider geography, which we believe adds great value to our trusted customer relationships in Switzerland," added Olivier Crochat, Fibrelac's CEO. "The integrated businesses will deliver a strong scaling bandwidth proposition to the Swiss and wider European market. We are excited to be joining the euNetworks team."
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