April 2013Lightower Closes Merger with Sidera Networks to Form One of the Largest Pure-Play Fiber Providers in U.S. Networking Market
Boxborough, Massachusetts, April 11, 2013 — Lightower Fiber Networks announced today that it has closed the merger with Sidera Networks first announced on December 27, 2012. The combined company creates one of the largest metro fiber providers in the U.S. and will be positioned as the premier provider of custom, high-capacity network services that ensure optimal application and business performance. Effective today, the new company operates under the Lightower brand.
The merged company delivers a more broad, dense and unique fiber-optic network throughout the Northeast, Mid-Atlantic and Chicago metro areas. Specifically, Lightower's network footprint now spans throughout New England, the New York metro region, Philadelphia, Washington, D.C., Virginia and west to Chicago, with additional connectivity to landing points in London and Toronto. Lightower now offers customers over 20,000 route miles of network providing access to over 7,500 service locations. To view a map of the new Lightower Network, please visit www.lightower.com.
"The new Lightower emerges as a leader in the metro fiber industry focused on best-in-class services and a strong commitment to a customer-first approach," stated Rob Shanahan, President & CEO of Lightower. "Customers can now enjoy an even broader set of solutions as well as a network with wider and deeper reach and unique assets. The combined workforce, knowledge base, network and service portfolio of Lightower and Sidera have truly created the premier metro fiber provider in the region. We've combined the best of both companies to ensure our customers continue to receive world-class network solutions and support."
Delivering application connectivity, back-up and recovery, content carriage, media distribution, medical imaging, distance learning and cloud connectivity, Lightower designs networks that support applications across a multitude of industries. From Ethernet and wavelengths, to dark fiber, Internet access, video transport and colocation, Lightower's comprehensive suite of best-in-class solutions serves the mission-critical needs of enterprise, government and carrier customers.
In addition to providing access to over 7,500 service locations, the new Lightower Network also connects more than 130 data centers, over 115 carrier hotels and central offices, 40 financial exchanges and 18 Lightower colocation centers.
"Bringing together Lightower and Sidera presents a unique opportunity in this market to combine two industry leaders in order to form an even stronger player in the market," explained Randy Peeler, Managing Director of Berkshire Partners. "Berkshire has invested in the telecommunications infrastructure space for nearly 20 years and believes that the combination of these two great companies establishes a unique operator that is focused on and experienced in delivering value to both customers and investors."
The transaction, valued at more than $2 billion, was led by Boston-based Berkshire Partners. Pamlico Capital, a significant Lightower investor, and ABRY Partners, a significant Sidera investor, will remain as investors in the new company. Further details of the financial transaction have not been disclosed.
A map of the new Lightower Network as well as details on the company's full portfolio of services are available on the Lightower web site at www.lightower.com.
About Lightower Fiber Networks
Lightower Fiber Networks is the premier provider of custom, high-capacity network services that ensure optimal application and business performance. Serving enterprise, government, carrier and data center customers, our comprehensive suite of fiber-based solutions is delivered across a robust, dense and highly-reliable network. The company offers over 20,000 route miles of network providing access to over 7,500 service locations throughout the Northeast, Mid-Atlantic and Chicago Metro with connectivity to critical international landing sites. Lightower Fiber Networks is headquartered in Boxborough, MA. For more information, visit www.lightower.com or call 1.888.LT.FIBER.
Source: Berkshire Partners via Market Wired
Title: Lightower Closes Merger with Sidera Networks to Form One of the Largest Pure-Play Fiber Providers in U.S. Networking Market
Date Published: April 11, 2013
Date Accessed: April 11, 2013