Light Tower Buys Keyspan Comm

Light Tower Fiber LLC, a provider of digital fiber optic networks, has acquired KeySpan Communications Corp., which provides fiber optic networks in New York City and Long Island. No financial terms were disclosed. Light Tower is a portfolio company of M/C Venture Partners and Wachovia Capital Partners. 

 

PRESS RELEASE

Light Tower Fiber LLC, a leading provider of digital fiber optic networks, announced today that it has acquired KeySpan Communications Corp. (“KeySpan Comm”), expanding the company's fiber optic network offerings extensively in New York City and Long Island and gaining KeySpan Comm's capacity rights in three Trans-Atlantic cable systems.

Light Tower Fiber's assets cover over 3,600 route miles from Albany, NY to Long Island, including the metro areas of Boston, MA, New York, NY, Providence, RI as well as key routes in northern New Jersey and southern Connecticut.

“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,” said Rob Shanahan, CEO of Light Tower Fiber. “Combining KeySpan Comm's fiber assets with our existing fiber network, which includes the recent acquisition of DataNet Communications Group, establishes a unique Northeast footprint and positions us to be able to meet these needs. We are prepared to continue our growth strategy through potential acquisitions and organic growth.”

Light Tower Fiber will also receive KeySpan Comm's capacity rights in three Trans-Atlantic cable systems from New York to Paris and London. With the addition of KeySpan Comm's network, Light Tower Fiber will offer unique fiber optic links between the Trans-Atlantic landing stations and points outside of New York City using routes diverse from Manhattan.

“KeySpan Comm has a long history of providing customized fiber solutions and bandwidth services,” said Jason Cohen, Vice President, KeySpan Communications. “Joining Light Tower Fiber makes perfect sense as it allows us to take these offerings one step further — adding access to Light Tower Fiber's expanded network availability.”

Light Tower Fiber LLC is backed by M/C Venture Partners and Wachovia Capital Partners.

About Light Tower Fiber LLC

Light Tower Fiber LLC is the leading digital fiber network and broadband service provider in the Northeast, offering over 3,600 route miles coupled with comprehensive backhaul services. Light Tower Fiber's geographic footprint extends from southern New Hampshire to Massachusetts and Rhode Island, to eastern New York State, southern Connecticut and New Jersey. Light Tower Fiber is headquartered in Boxborough, MA.

About KeySpan Communications

KeySpan Communications is the owner, operator and developer of a high- speed fiber optic network — covering 1,000-route miles or 75,000 fiber miles — that transverses Long Island and part of New York City. The network has several access points to Trans-Atlantic cable systems that run between Long Island, London and Paris.

About M/C Venture Partners

M/C Venture Partners is a venture capital firm focused exclusively on the communications, media, and information technology sectors. The firm has invested over $1.8 billion into nearly 80 companies in those sectors. Companies the firm has backed include MetroPCS, Cavalier Telephone, TeleCorp PCS, Triad Cellular, Western Wireless, Crowley Cellular, and Brooks Fiber. The firm has strong institutional backing from the nation's leading pension funds and endowments as well as a long track record of success. M/C Venture Partners has offices in Boston and San Francisco.

About Wachovia Capital Partners

Wachovia Capital Partners (WCP) is the private equity investing arm of Wachovia Corporation, the fourth largest bank holding company in the U.S. Since the group's inception in 1988, WCP has invested in excess of $3.5 billion of private equity capital on behalf of Wachovia. WCP's current investment portfolio is comprised of 43 companies representing roughly $1.4 billion in invested capital. WCP is currently investing out of WCP II, L.P., a $1.8 billion fund. Companies the firm has backed include: Inflow, Inc., Affinity, NuVox Communications, Triton PCS, and MetroPCS.