While FiberTower (News - Alert) proposed a reorganization plan to eliminate long term debt, SolveForce disclosed wide-ranging fiber optic network services. And Philadelphia Mayor Michael Nutter inaugurated a new Fiberlink office in downtown Philadelphia. Welcoming Fiberlink to the downtown area, the Mayor praised the company’s commitment to promoting economic growth in the city of Philadelphia. In essence, both good and not so good news emerged from the dark fiber community this past week.
TMCnet contributor Sujata Garud reported that FiberTower Corp. and some of its wholly-owned subsidiaries have filed voluntary petitions for reorganization under Chapter 11 of the U.S. bankruptcy code. As per the report, the filing includes a projected plan of reorganization for FiberTower. The company will get rid of its long-term debt through this proposed plan of reorganization, which will allow FiberTower to come out from bankruptcy as a stronger business, wrote Garud.
The subsidiaries who have filed the voluntary petitions include FiberTower Network Services Corp., FiberTower Licensing Corp. and FiberTower Spectrum (News - Alert) Holdings, LLC. The report shows that based on the proposed plan FiberTower will be reorganized around its restructured legacy backhaul network in addition to two other business lines - - spectrum services and carrier services.
The report indicates that FiberTower evaluated diverse strategic and financial alternatives and decided that reorganizing under Chapter 11 is in the best long-term interests of the company, its customers, employees, creditors, business partners and other stakeholders, wrote Garud.
Likewise, in another report, contributor Calvin Azuri reported that SolveForce is enhancing its services with additional carriers. Consequently, it will now be offering dark fiber and metro Ethernet to its clients along with its T1 and T3 line offerings, wrote Azuri.
According to SolveForce, it provides instantaneous prices for services from a minimum of 40 carriers. Clients can utilize this information to select the best available service to set-up an independent network. Private dedicated networks with a rapid and secure data transfer can be ascertained with immobile optical fiber supports.
In another report, contributor Madhubanti Rudra wrote that SolveForce, an eight-year-old dark fiber and metro Ethernet service provider, is helping small businesses to deploy dedicated private networks and save a substantial amount in bandwidth fees. In an effort to further expand its service offering, the company has reportedly forged partnerships with more carriers. The partnership with leading carriers allows SolveForce to provide real-time prices for services from over 40 carriers.
Meanwhile, in Philadelphia, Penn., Mayor Michael Nutter inaugurated a new Fiberlink office in the downtown area. At the ribbon cutting ceremony, the Mayor welcomed Fiberlink to the city, praising the company’s commitment to promoting economic growth in the city of Philadelphia, reported contributor Nathesh.
Fiberlink’s rapid growth in the mobile technology sector is powered by the popularity of iPads, iPhones and Androids with employees in the workplace, driving the need for additional office space. Hence, in last one year, the company has grown rapidly.