Lightpath Enters The Boston Fiber Connectivity Market Accelerated By Three Acquisitions
NEW YORK and BOSTON, June 16, 2021 /PRNewswire/ -- Lightpath, an all-fiber, infrastructure-based connectivity provider that is revolutionizing how organizations connect to their digital destinations, today announced its entrance into the Boston market for fiber connectivity solutions, which is accelerated by three acquisitions. Lightpath becomes the first all-fiber, enterprise-grade connectivity provider to enter the Boston market since industry consolidation began over a decade ago.
To help fuel its entrance into the Boston area market, Lightpath announced three acquisitions in the region: Cambridge Network Solutions (CNS), Point 5 Network Solutions, and the purchase of fiber network assets from Hub Fiber. The CNS and Point 5 acquisitions have closed, while the Hub Fiber purchase is expected to close within 30 days. The transactions were funded with cash on Lightpath's balance sheet and will not have a material impact on the Company's leverage.
Combined, Lightpath acquired over 80 route miles of in-place, high-count fiber network, which currently serves over 100 locations, including 12 area data centers, throughout Boston, Cambridge, Somerville, Waltham, Burlington, Billerica, Bedford, and Lowell. Additionally, Lightpath's network in the region will be connected to its New York Metro network, expanding on the company's existing 18,000 route miles of fiber serving over 12,000 locations.
"Greater Boston is a perfect expansion area for Lightpath, with its robust technology and biotech industries, financial services sector, world leading universities and research institutes, tech-savvy governments, and other enterprise businesses," stated Chris Morley, Lightpath's CEO. "This is the first step for Lightpath expanding beyond the NY Metro region after reliably serving thousands of customers there for over 30 years. We are excited to bring our network, connectivity solutions, and innovative customer service approach to more organizations. These acquisitions will help us hit the ground running, and we will be able to start serving new customers right away."
Cambridge Network Solutions (CNS) is at the core of the three acquisitions announced today, comprised of high capacity fiber throughout downtown Boston, Boston seaport, Cambridge, and the surrounding areas. CNS also has established rights-of-way and construction capabilities hat will accelerate building new network into additional service locations, as well as expanding the network to additional areas.
"The Lightpath leadership, sales, and operations teams are very familiar with the Boston market, as we have personally done business here for over 20 years, and now we are bringing that experience and our long-held customer relationships to Boston with Lightpath," explained Doug Dalissandro, Lightpath's Chief Revenue Officer. "Boston customers know our team, the high level of customer service that we provide, and that we go the extra mile to ensure that they get the exact, custom network solution, and support, that they need. Add to this, our new, advanced high capacity network and services, and we can't wait to get going in Boston."
Boston area customers will have access to the entire portfolio of Lightpath all-fiber solutions, including Optical Transport, Ethernet, Internet Access, Private Networks, Dark Fiber, SD-WAN, Voice, Security Solutions, and other Managed Services. Additionally, customers will be able to utilize Lightpath services to connect between Greater Boston and the NY Metro Area, including over 65 NY Metro data centers, 8 cable landing stations, and all major cloud providers.
Lightpath is revolutionizing how customers connect to their digital destinations by combining our next-generation network with our next-generation customer service. Lightpath's advanced fiber-optic network offers a comprehensive portfolio of custom-engineered connectivity solutions with unparalleled performance, reliability, and security. Our consultative customer service means we work with you to design, deliver, and support the solution for your unique needs, faster and more easily than ever before. For over 30 years, thousands of enterprises, governments, and educators have trusted Lightpath to power their organization's innovation. Altice USA (NYSE: ATUS) owns a 50.01% controlling interest in Lightpath and Morgan Stanley Infrastructure Partners (MSIP) owns 49.99% of the Company.
Learn how Lightpath can connect you to your digital destinations. www.lightpathfiber.com
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