In the news release, Lightpath Enters The Boston Fiber
Connectivity Market Accelerated By Three Acquisitions, issued
16-Jun-2021 by Lightpath over PR
Newswire, we are advised by the company that the second paragraph
should read as below rather than as originally issued
inadvertently. The complete, corrected release follows:
Lightpath Enters The Boston Fiber Connectivity Market Accelerated
By Three Acquisitions Lightpath Offers a New Choice for Fiber
Connectivity to Boston Area Customers
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), a
second area connectivity provider, and the purchase of fiber
network assets from Hub Fiber. The CNS and the second 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 that
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.
Follow Lightpath on LinkedIn and Twitter. For more information,
visit www.lightpathfiber.com.
About Lightpath:
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
For media inquiries:
JSA for Lightpath
1-866-695-3629 ext. 13
jsa_lightpath@jsa.net
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SOURCE Lightpath