Lightower Fiber Networks announced today the closing of its $1.9 billion merger with Fibertech Networks. The merger further solidifies the company’s leadership role in the U.S. fiber-networking market.
The combined company will operate under the Lightower brand and serve customers across a service footprint roughly double the size of each independent company. Lightower’s new network offers more than 30,000 route miles of fiber providing access to more than 15,000 service locations, including over 250 data centers, 500+ telco hotels and central offices, 40 financial exchanges, and more than 5,000 wireless towers. Lightower’s updated on-net building list is available on the company website www.lightower.com.
“Lightower is now the leading all-fiber provider from Illinois, to Massachusetts, to North Carolina, covering an area of the country with over 40% of the U.S. population,” stated Rob Shanahan, President & CEO of Lightower. “This merger accelerates Lightower’s ongoing expansion strategy and positions us as the premier solution provider in 6 of the nation’s top 11 metro markets.”
“This strategic merger was a natural fit for both networks and both companies,” continued Shanahan. “Both companies have deep roots in customer-first cultures, which are reflected in service that is second to none in our industry. Of course, superior customer service would not be possible without the most passionate and dedicated employees in the business.”
The transaction, valued at $1.9 billion, was funded through a combination of equity and debt. Lightower’s existing financial backers, Berkshire Partners, Pamlico Capital and ABRY Partners, each provided additional equity to support the transaction.
Lightower already serves thousands of customers in health care, finance, media and content delivery, government, education, and wireless and wireline carriers, delivering high-performance networks that support business-critical applications.
The merger further enhances the company’s comprehensive portfolio of industry-specific networking solutions including Ethernet, dark fiber, wavelengths, Internet access, private networks and colocation.
For more information on Lightower’s best-in-class network solutions, visit www.lightower.com.