ExteNet Systems Announces Agreement To Acquire Hudson Fiber Network
Chicago, IL /PRNewswire/ - ExteNet Systems, the largest private developer, owner and operator of distributed networks enabling advanced mobile broadband connectivity across the United States, today announced an agreement to acquire Hudson Fiber Network (HFN). The acquisition is anticipated to close in the second half of 2018 after completion of regulatory approvals. Terms of the agreement were not disclosed.
HFN, headquartered in Paramus, New Jersey, is a premier data transport provider offering high-bandwidth, low-latency fiber networking solutions. The acquisition of HFN will provide ExteNet with additional high-capacity fiber footprint in the populous New York City/New Jersey metro area, alongside other regions of the United States, and 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," said Ross Manire, President and CEO of ExteNet Systems. "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."
Brett Diamond, CEO of Hudson Fiber Network, added "ExteNet's customer-centric approach and purpose-built fiber strategy aligns with our own corporate vision. 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."
Q Advisors, a TMT global investment banking boutique, is acting as the financial advisor to HFN, with Lowenstein Sandler LLP representing HFN as legal counsel. Reed Smith LLP is representing ExteNet in the transaction.
About ExteNet Systems, Inc.
Lisle, Ill.-based ExteNet Systems, Inc. designs, builds, owns and operates communications infrastructure solutions, including distributed networks (DNS), for use by its customers across the United States. Customers today include wireless carriers, broadband providers, property owners, enterprises, communities and IoT companies. Primary solutions include fiber, distributed antenna systems (DAS), remote radio heads (RRH), small cells, Wi-Fi and virtualized Evolved Packet Core (vEPC). ExteNet's outdoor networks are deployed in a variety of urban, suburban and rural environments while indoor networks are typically deployed in property verticals like commercial office buildings, sports and entertainment venues, hotels and convention centers, healthcare facilities and transit systems. For more information, please visit www.extenetsystems.com.
"ExteNet" is a registered trademark of ExteNet Systems, Inc.
Source: ExteNet Systems, Inc.Copyright 2018 PR Newswire. All Rights Reserved