Fiber network provider Everstream, a company with more than 15,000 route miles of fiber delivering speeds up to 100 Gbps, has acquired the fiber network assets of Uniti. The acquisition would allow Everstream to add more than 5,600 route miles to its fiber network, increasing its size by more than 35 percent.
Two major metro markets – Pittsburgh and Philadelphia – are part of the transaction. These areas will be connected to Everstream’s “high-capacity” networks in other cities across the Midwest, including Chicago. Both metro fiber and long-haul fiber are included in the agreement. Financial terms of the acquisition were not disclosed.
“Everstream’s acquisition of the Uniti network assets in Pennsylvania provides reach into new markets, from which we will continue to densify the network,” said Brett Lindsey, President and CEO of Everstream. “The network spans the state, and these markets will now experience Everstream’s unrivaled commitment to customer service, and the unique way in which we deliver services.”
The acquired assets part of the deal include:
- Fiber assets throughout Pennsylvania, including Philadelphia, Pittsburgh and more than 10 additional cities
- Mix of both metro fiber and long-haul fiber
- Dense fiber coverage in the greater Philadelphia and Pittsburgh areas
- Fiber-based Ethernet and internet services capable of speeds up to 100 Gbps
- Connection to Everstream’s existing fiber network infrastructure throughout the Midwest
- The opening of local offices in Philadelphia and Pittsburgh.
The transaction with Uniti is in addition to Everstream’s $250 million investment to build new fiber infrastructure across the Midwest, announced at the beginning of this year. Since Q3 2019, Everstream has opened five offices, completed two acquisitions and onboarded more than 130 employees.
Everstream’s “enterprise-grade” network delivers business fiber services including dedicated Internet access, dark fiber, Ethernet and data center solutions. The company’s advanced fiber network offers direct peering with all major carriers and cloud hyperscalers. With “high-speed, low-latency” connections, it provides converged Internet, voice and data services at speeds of up to 100 Gbps.
The acquisition transaction has been supported and funded by the AMP Capital Global Infrastructure platform, the majority owner of Everstream. Thompson Hine LLP served as legal counsel to Everstream.