American Fiber Systems To Acquire IDACOMM
Rochester, NY — Privately held American Fiber Systems, Inc. recently announced that it has signed a definitive agreement to acquire IDACOMM, the communications subsidiary of IDACORP.
IDACOMM, is a 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 in Las Vegas, NV, Reno, NV and Boise, ID.
"IDACOMM's dense fiber optic network is highly complementary with the AFS strategy of providing our customers with a reliable alternative to AT&T, Qwest and Embarq" said Dave Rusin, AFS President & CEO. "This investment also affirms our commitment to actively pursue growth opportunities through acquisitions."
This accretive transaction for AFS is expected to close as early as the end of the fourth quarter of 2006 (subject to regulatory approvals) and follows AFS' announcement last month of their consolidation with USCarrier Telecom Holdings, LLC, a long haul network provider to second tier markets in Southeastern United States.
Jon Yount, AFS SVP of Operations noted, "We are looking forward to leveraging IDACOMM's operational strengths throughout the rest of our organization and to expanding the breadth and depth of services that we can offer our customers."
"Similar to our other markets, these cities are all areas experiencing high growth," continued Yount, "Forbes magazine named Boise ‘The Best Place in the USA for Business' and FORTUNE ranked Las Vegas as the #2 city in the country in which to do business; further, the latest US Census listed Reno as one of the fastest growing metro markets in the U.S. These are clearly desirable locations for us to expand our presence."
"AFS is well respected in the telecommunications industry," said Rich Coyle, Executive Vice President, IDACOMM. "We expect both our customers and employees will benefit from AFS' leadership and focus within this industry. We look forward to working with the entire AFS team."
SOURCE: American Fiber Systems