ExteNet Systems recently announced its acquisition of Hudson Fiber Network (HFN). The deal is expected to be finalized during the second of half of 2018, once regulatory approvals have been completed. Agreement terms were not disclosed.
ExteNet is the largest private developer, owner and operator of distributed networks that enhance advanced mobile broadband connectivity across the United States. Meanwhile, HFN is the leading premiere data transport provider that provides high bandwidth, low latency fiber networking solutions. With this acquisition, ExteNet will have a more high-capacity footprint in the highly populated New York City and New Jersey metro areas, alongside other U.S. regions. The deal also gives ExteNet a proven medium to offer enterprise fiber services.
Pro-forma for the transaction, ExteNet will have more than 30,000 nodes operational or under construction throughout the United States.
“We are pleased to announce our intention to acquire Hudson Fiber Network to accelerate growth of ExteNet’s Optical Network Solutions business,” ExteNet president and CEO Ross Manire said in a release. “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,” Hudson Fiber Network CEO Brett Diamond added. “ExteNet’s extensive network and financial and operational resources will help accelerate expansion into key markets across the United States. Our team at Hudson Fiber is excited about the prospects of joining ExteNet and continuing to provide the innovative solutions and exemplary service our customers are accustomed to from us.”
TMT global investment banking boutique Q Advisors is serving as HFN’s financial advisor, while Lowenstein Sandler LLP is representing the company as legal counsel. Reed Smith LLP is representing ExteNet in the transaction.