01 June 2018
| Natalie Bannerman
ExteNet Systems, a developer, owner and operator of distributed networks in the US, has entered into an agreement to acquire Hudson Fiber Network (HFN).
The deal will give ExteNet additional high-capacity fibre
footprint in the New York City/New Jersey metro area as well as
other regions of the US, plus a proven model to offer
enterprise fibre services.
"We are pleased to announce our intention to acquire Hudson
Fiber Network to accelerate growth of ExteNet's Optical Network
Solutions business," said Ross Manire, president and CEO of
ExteNet Systems. "We have served the northeast region,
including New York City, for many years with our fibre, small
cell and indoor network solutions. We plan to leverage the core
competencies of both companies to offer our customers an
expanded portfolio of carrier and enterprise solution offerings
and rapidly expand into other major markets by leveraging
ExteNet's extensive fibre plant."
HFN which is based in Paramus, New Jersey, is a data
transport provider which offers high-bandwidth, low latency
fibre networking solutions. The deal which has been agreed for
an undisclosed amount is due to close in the second half of
2018 subject to the standard regulatory approvals.
"ExteNet's customer-centric approach and purpose-built fibre
strategy aligns with our own corporate vision. ExteNet's
extensive network and financial and operational resources will
help accelerate expansion into key markets across the
United States. Our team at Hudson Fiber is excited about the
prospects of joining ExteNet and continuing to provide the
innovative solutions and exemplary service our customers are
accustomed to from us," added Brett Diamond, CEO of Hudson
Q Advisors, a TMT global investment banking boutique, is
acting as the financial advisor to HFN, with Lowenstein Sandler
LLP representing HFN as legal counsel. Reed Smith LLP is
representing ExteNet in the transaction.
Hudson Fiber Network,