American Fiber Systems Completes Acquisition Of IDACOMM

Las Vegas, NV - American Fiber Systems, Inc. recently announced that it has completed a ten million dollar transaction to acquire IDACOMM, the communications subsidiary of IDACORP .

IDACOMM, is a fiber facilities-based competitive metro network provider, with operations focused in Nevada and Idaho, specializing in fiber-based transport services to both carrier and enterprise customers. IDACOMM's fiber rich network includes over 45,000 local and long haul fiber strand miles with approximately 150 buildings on net. Adding these rapid-paced development cities of Las Vegas, NV, Reno, NV, Carson City, NV and Boise, ID opens new regional transport business to AFS.

"IDACOMM's dense fiber optic network is highly complementary with the AFS strategy of providing our customers with a reliable fiber facilities-based alternative to AT&T, Qwest and Embarq," said Dave Rusin, AFS President & CEO. "This investment further substantiates our presence within middle markets nationwide, while solidifying our western regional position alongside our Salt Lake City properties."

This transaction is EBITDA positive and accretive for American Fiber Systems. It follows AFS' announcement late last year of their consolidation with USCarrier Telecom Holdings, LLC, a regional long haul network provider to second tier markets in the Southeastern United States.

Jon Yount, Senior Vice President of Operations for AFS noted, "We anticipate a fairly quick integration of the IDACOMM team. As a combined entity, the IDACOMM team brings an exceptional regional presence to AFS and we look forward to building upon their heritage of success."

"Similar to our other markets, these cities are all experiencing high growth," continued Yount, "The anticipated recurring revenue growth from our IDACOMM team is expected to exceed 40% by year's end. We have exceptional and unique fiber assets which correspondingly allow us to deliver best-in-class optical broadband service and reliability."

"The AFS vision is well aligned with the traditional IDACOMM value system of physical network ownership, reliability and performance," said Rich Coyle, Vice President of Western Operations. "We expect both our customers and employees will benefit from our best practices integration and it is great to be a part of a business whose core emphasis is telecommunications."

American Fiber Systems was recently granted Atlantic ACM's Best-in-Class Wholesale Metro Service Provider Award and Capacity Magazines Best US Metropolitan Provider. AFS scored well in both network quality and performance, as well as provisioning, customer service and sales representatives.

The closing of the transaction will be seamless to both AFS and IDACOMM's existing customers. They will continue to receive the same high-quality customer support for their communications services.

SOURCE: American Fiber Systems