NTELOS Buys FiberNet, Expands Regional Fiber Network

NTELOS, an independent telco based in Waynesboro, Va., announced yesterday that it will acquire One Communications’ FiberNet business for about $170 million.

NTELOS is committed to building a regional fiber network. Last fall the telco made a deal with Allegheny Energy to acquire 2,200 miles of fiber in Pennsylvania, West Virginia and parts of Maryland, Kentucky and Ohio. Fast forward 10 months and through this new transaction with FiberNet, NTELOS is inheriting a 3,500-mile fiber optic network that covers all of West Virginia and surrounding areas in Ohio, Maryland, Pennsylvania, Virginia and Kentucky. Once this transaction is completed, NTELOS’ network will contain nearly 8,000 miles of glass.

“In addition to immediate financial contributions from the embedded customer base, this acquisition will provide NTELOS with new opportunities within our core business of providing high bandwidth services to large enterprises, government customers and carriers,” said Frank L. Berry, NTELOS executive vice president and president of wireline operations. “Consistent with our strategic growth vision, by increasing FiberNet’s customer penetration and usage across our service area, we will further leverage operational and back office platforms already in place.”

NTELOS expects to close the FiberNet deal, which is subject to FCC, state regulatory and antitrust approvals, in the fourth quarter of this year.

For more, read the release.

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