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 Fiber Network.
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.
