Con Edison Communications and Carlyle Group sign agreement for access
Aug. 1, 2001--Con Edison Communications, Inc. (CEC) has signed a 10-year agreement with the Carlyle Group, a Washington D.C.-based private global investment firm, that gives CEC access to the new Atlantic Telecom Center in Brooklyn.
Con Edison Communications, Inc. (CEC) has signed a 10-year agreement with the Carlyle Group, a Washington D.C.-based private global investment firm, that gives CEC access to the new Atlantic Telecom Center in Brooklyn. Carlyle recently renovated the 700,000-square-foot structure.
CEC's fiber optic service to the center, at 470 Vanderbilt Avenue, Brooklyn, advances the company's strategy to provide broadband capability throughout the five boroughs, as well as to Westchester and New Jersey. The strategy also supports New York City's initiatives to provide technology resources to the outer boroughs. The center is on the site of the former Scovil Manufacturing Company, a tire valve factory.
A wholly-owned subsidiary of Consolidated Edison, Inc. (NYSE:ED), Con Edison Communications is currently building an extensive fiber optic network in New York and Westchester that will bring telecommunications and Internet service providers to New York buildings over the next several years. CEC connections will be available to all major New York access points, including CEC's hubs at 111 Eighth Avenue and 60 Hudson Street, all commercial buildings on the CEC network and all Verizon local service offices.
Con Edison Communications plans to begin offering services to telecommunications and Internet service providers for the Atlantic Telecom Center year-end 2001. CEC will offer introductory incentives to tenants who sign up for services before that time.
About The Carlyle Group:
The Carlyle Group is a private global investment firm which originates, structures and acts as lead equity investor in management-led buyouts, strategic minority equity investments, equity private placements, consolidations and build-ups, and growth capital financings. For more information, visit www.thecarlylegroup.com.
About Con Edison Communications, Inc.:
Con Edison Communications, Inc. (CEC) is a wholly-owned subsidiary of Consolidated Edison, Inc. CEC, a carrier's carrier, offers a comprehensive range of value-added products and services designed to enhance the performance of its customers' networks. For more information, visit www.electricfiber.com.