The Midwestern regional fiber operator Everstream is making another acquisition. This morning they announced a definitive agreement to purchase the former LightBound fiber assets and CLEC business in Indianapolis, Indiana.
They are buying the assets from DataBank, who acquired them as part of the deal for LightBound’s two data centers there [edit: This transaction just closed today actually]. I wondered at the time what DataBank might do with that pile of metro fiber. We now know the answer, and it was a logical result that will keep both companies focusing on what they do best.
The deal is for 200 route miles of lit fiber with customers that will jump start Everstream’s ambitions in Indianapolis. They plan to invest $38M in the metro area, some of which will go toward building out another 600 route miles of fiber and expanding its local headcount above 20.
Backed by the investment from AMP Capital, Everstream has been working on a $300M expansion throughout the Midwest. Earlier this year they announced the acquisition of Arch Fiber Networks out in St. Louis and most recently completed a new metro fiber ring in Columbus, Ohio.
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Categories: Mergers and Acquisitions · Metro fiber
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