FiberLight completes strategic recapitalisation to support further fibre network deployments
FiberLight has completed what it describes as a strategic recapitalisation, which includes $325 million in financing, with a preeminent global investment and advisory financial services firm.
With this new financing FiberLight says it will strengthen its lit and dark fibre network solutions and services, so that its customers benefit from diverse connectivity services.
“At FiberLight, we are driven by a core dedication to ensuring reliability for businesses, improving reach for their network solutions and enabling our partners and customers across an array of verticals,” said Jim Lynch (pictured), CEO of FiberLight.
“This strategic recapitalisation aligns with and supports this commitment, opening up new possibilities not only for FiberLight, but more importantly for our customers who rely on our solutions to get the results they need to be competitive and to flourish in this digital era. We’re excited to work with our new lending partner, as they understand digital infrastructure and support our next phase of company growth.”
The news comes as wireless providers, hyperscalers, data centres, enterprises, healthcare institutions, municipalities are looking to transform their IT frameworks to support growing demand for data.
The Covid-19 pandemic has only accelerated this transformation, making connectivity and robust networking due to the growth in remote working and virtual communications.
In March of this year, Fiberlight was selected as lit network service provider for Nextlink Internet.
Under the terms of the deal, Fiberlight will enhance Nextlink’s network core and increase tower deployment, bringing 70 additional fibre-fed towers online and adding capacity the an existing 10GB network ring it already provides to Nextlink.