Merger Mogul, Cross-Border M&A News, Private Equity Real Estate Alert and Post-Merger Integration News, our free email news alerts
Light Tower Fiber Closes on KeySpan
M/C and Wachovia’s Light Tower will gain additional cable rights through its acquisition of the high-speed fiber optic provider.
July 29, 2008
Light Tower Fiber LLC, a Boxborough, Massachusetts-based fiber optics company, has acquired KeySpan Communications Corp. Terms of the transaction were not disclosed.
Light Tower is a portfolio company of M/C Venture Partners and Wachovia Capital Partners.
KeySpan operates a 75,000 fiber mile-long high-speed fiber optic network that runs from Long Island through New York City.
As part of the agreement, Fiber will gain rights to three Trans-Atlantic cable systems from New York to Paris and London.
Light Tower chief executive officer Rob Shanahan said, "With the acquisition of KeySpan Comm finalized, Light Tower Fiber is better prepared than ever to help our customers manage the growing pressure to increase capacity and decrease backhaul costs.”
For more information on related topics, visit the following:
