Time Warner (News - Alert) Cable Inc., which is among the largest providers of video, high-speed data and voice services in the United States, has completed its previously announced acquisition of DukeNet Communications, LLC.
Prior to the transaction, DukeNet was jointly owned by Duke Energy (News - Alert) Corporation and investment funds managed by Alinda Capital Partners.
Thanks to the acquisition, Time Warner Cable will now be able to add over 8,700 route miles to its fiber optic network that serve business customers in the Southeast, including key markets in North Carolina and South Carolina.
"DukeNet and Time Warner Cable are perfect complements to each other and the customers we serve," said Phil Meeks, executive vice president and chief operating officer for business services at Time Warner Cable, in a statement.
“We welcome our new customers and look forward to serving their communications needs with our network's expanded reach, additional product offerings and enhanced level of customer service. We're also very excited for our existing customers, as this additional fiber capacity will enable us to extend our fiber reach and help them connect to our network from more business locations," said Meeks.
The additional fiber will be utilized by Time Warner Cable Business Class (TWCBC) to connect and serve business customers who need services such as voice, high-speed Internet and cloud-enabled hosting.
The additional fiber capacity is likely to be utilized by TWCBC to further grow its carrier business, which provides network access to wireless providers.
TWCBC is a major player in this industry and last summer passed the milestone of providing services for more than 10,000 cell towers around the country.
TMCnet in December reported that the race for the hearts and minds of the digitized TV viewer continues apace, with Time Warner Cable becoming the latest to supercharge its subscription perks via the cloud.
TWC is accelerating its rollout of a new guide with cloud-based navigation services that gives customers simplified navigation, more program information, a new video on demand (VOD) portal and better search capability.
These new features are available on more than 2 million set-top boxes today and will be available on over 6 million boxes by the end of 2014.
Edited by Cassandra Tucker