ExteNet aims to complete the acquisition of Hudson Fiber Network during the second half of 2018
ExteNet Systems, a developer and operator of distributed networks, has announced an agreement to acquire Hudson Fiber Network (HFN), a New Jersey-based data transport provider.
ExteNet Systems said that the acquisition is expected to close during the second half of the year after completion of regulatory approvals.
Tiger Infrastructure Partners, which currently owns a controlling stake in Hudson Fiber Network, said the two companies had agreed to make the acquisition in an all-cash transaction. Additional terms of the deal were not disclosed.
The new acquisition will provide ExteNet with more high-capacity fiber in the New York City/New Jersey metro area, alongside other regions of the United States. The transaction will also allow ExteNet to offer enterprise fiber services. Once the acquisition is closed, ExteNet will have more than 30,000 nodes operational or under construction throughout the country.
“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, in a statement. “We have served the northeast region, including New York City, for many years with our fiber, 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 fiber plant.”
“ExteNet’s customer-centric approach and purpose-built fiber 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,” said Brett Diamond, CEO of Hudson Fiber Network.
Tiger Infrastructure Partners acquired a controlling stake in HFN in 2014 from the company’s founders. Since then, the company has been expanded its network in the Manhattan and New Jersey markets by building and acquiring new fiber.
In November 2017, ExteNet Systems had completed the acquisition of MetroFiber Co. ExteNet said that this acquisition will allow it to address the increasing densification, bandwidth and communication needs throughout New York City.
The acquisition follows additional consolidation of fiber providers in the New York City metro area; last month, New York and New Jersey metro-area fiber companies ZenFi Networks and Cross River Fiber began their merger into a private-equity-backed company in order to scale their infrastructure business. That transaction is expected to close later this year as well.
