Lightower Fiber Networks, a metro fiber and bandwidth provider in the Northeast, recently signed an agreement worth $2 billion to merge with Sidera Networks (News - Alert), a provider of tailored, high-capacity communications services to large enterprise, carrier and data center customers.
The transaction was led by Berkshire Partners, a Boston-based investment firm. Pamlico Capital, a significant Lightower investor, and ABRY Partners, a significant Sidera investor, will remain as investors in the new company which will operate a fiber-based network throughout the Northeast, Mid-Atlantic and Midwest with connections to critical landing sites and exchanges internationally. With the combined network, customers will be able to access over 20,000 route miles and more than 6,000 on-net locations including commercial buildings, data centers, financial exchanges, content hubs and other critical interconnection facilities.
"Lightower and Sidera together will offer customers an industry-leading, fiber-based network with a deeply experienced team supporting it," stated Rob Shanahan, CEO of Lightower. "Both companies have a shared vision of network excellence, customized solutions and superior customer support. Once merged, we will offer customers more services, more routes and more access options with the same high levels of performance, diversity, reliability and support that our customers have come to expect from us."
"Berkshire is excited to be working with both Lightower and Sidera -- two great companies and two great teams," added Randy Peeler, managing director of Berkshire. "We have invested in the telecommunications infrastructure space for nearly 20 years and believe that the combined company, with its incredibly robust network, is well positioned for continued growth serving customers with an ever-increasing need for high-performance bandwidth."
In related news, Lightower recently revealed its ultimate media platform which connects venues throughout the Northeast to critical broadcast centers. In fact, the company onducted live demonstration of its hitless switching at the Content & Communications World (CCW) event that was held back in November in New York City.
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Edited by Jamie Epstein