OCTOBER 19, 2006 -- Privately held American Fiber Systems Inc. (search American Fiber Systems) has signed a definitive agreement to acquire IDACOMM, a competitive metro network provider with operations in Nevada and Idaho. IDACOMM's fiber-rich network includes over 45,000 local and regional long-haul fiber-strand miles that pass approximately 150 buildings in Las Vegas and Reno, NV, and Boise, ID.
"IDACOMM's dense fiber-optic network is highly complementary with the AFS strategy of providing our customers with a reliable alternative to AT&T, Qwest, and Embarq" contends Dave Rusin, AFS president and CEO. "This investment also affirms our commitment to actively pursue growth opportunities through acquisitions."
This accretive transaction for AFS is expected to close as early as the end of the fourth quarter of 2006 (subject to regulatory approvals) and follows AFS' announcement last month of its consolidation with USCarrier Telecom Holdings LLC, a long-haul network provider to second tier markets in Southeastern United States.
"We are looking forward to leveraging IDACOMM's operational strengths throughout the rest of our organization and to expanding the breadth and depth of services that we can offer our customers," notes Job Yount, senior vice president of operations at AFS. "Similar to our other markets, these cities are all areas experiencing high growth," he adds. "Forbes magazine named Boise 'The Best Place in the USA for Business' and FORTUNE ranked Las Vegas as the #2 city in the country in which to do business. Further," he says, "the latest US Census listed Reno as one of the fastest growing metro markets in the U.S. These are clearly desirable locations for us to expand our presence."
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