Lightower Fiber Networks has closed the US$2bn merger with Sidera Networks, a deal the two US connectivity providers first announced at the end of last year.
The combined company creates one of the largest metro fiber providers in the country, operating more than 20,000 route miles of netwokr aond connecting more than 7,500 service locations and more than 100 data centers. Effective today, the new company operates under the Lightower brand.
The merged company's fiber-optic network reaches throughout the Northeast, Mid-Atlantic and Chicago metro areas. Specifically, Lightower’s network footprint now spans New England, the New York metro region, Philadelphia, Washington, DC, Virginia and west to Chicago, with additional connectivity to landing points in London and Toronto.
Boston-based investment-fund manager Berkshire Partners led the transaction. Randy Peeler, managing director at Berkshire, said combination of the two carriers created a very strong player in the market.
“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,” he said.
In addition to providing access to thousands of service locations, the new company also connects more than 130 data centers, about 115 carrier hotels and central offices, 40 financial exchanges and 18 Lightower colocation centers.
Pamlico Capital and Abry Partners, major investors in Lightower and Sidera, respectively, will remain investors in the combined entity.