Expands network reach to address growing demand for fiber-based, high bandwidth solutions in New York Metro Area
NEW YORK, NY – December 10, 2010 — Sidera Networks, Inc., a premier provider of fiber optic-based network solutions, today announced that it has signed a definitive agreement to acquire Long Island Fiber Exchange, Inc. (“LIFE”), a facilities-based network service provider serving customers on Long Island, New York, and in Westchester County, New York.
Through the acquisition of LIFE, Sidera gains access to one of the most dense fiber networks on Long Island, adding 900 miles of fiber and 550 lit buildings to its existing network.
“This exciting acquisition is a natural extension of our existing fiber network, strengthening Sidera’s leadership position among fiber providers in the New York Metropolitan area. We are thrilled to bring the full power of Sidera’s superior network to carrier and enterprise customers on Long Island and in Westchester County,” said Mike Sicoli, CEO of Sidera Networks.
“We are extremely pleased to become a part of the Sidera team,” said Mike Power, CEO and Founder of LIFE. “It provides LIFE with access to the capabilities of a broader and highly sophisticated network provider while maintaining the responsiveness and customer orientation that our customers have come to expect,” concluded Power.
“LIFE has always put customers first and has reaped the rewards of that investment over the years with consistent growth and success. This transaction is a positive outcome for our customers and employees. With Sidera’s resources, LIFE can now more fully realize it’s potential,” said Enrico Scarda, Chairman of LIFE.
The transaction is expected to close by December 31, 2010. Terms of the deal were not disclosed.
About Sidera Networks
Sidera Networks www.sidera.net, formerly RCN Metro Optical Networks, is the premier provider of tailored, high capacity communications services that ensure optimal business performance to carrier and enterprise customers. Sidera Networks offers a comprehensive suite of facilities-based services including: Ethernet, SONET, wavelength, internet access, colocation and more. With a fiber optic network leveraging unique rights-of-way that spans from Maine to Virginia, out to Chicago and up to Toronto, Sidera is committed to delivering cost-effective, custom solutions coupled with superior industry expertise, service and support.
About Long Island Fiber Exchange
Long Island Fiber Exchange, Inc. (“LIFE”), www.longislandfiber.com, is a leading provider of customer specific telecommunication services. LIFE’s solutions are designed and structured to significantly reduce costs while improving performance and increasing the services available to your organization. LIFE provides dark fiber, lit solutions, and wireless solutions. Customized to the client’s needs, these solutions can be utilized in many ways providing flexibility not always available from other providers