Merger will unite Lightower Fiber Networks and Sidera Networks

In a press release, it was announced that Lightower Fiber Networks, the premier metro fiber and bandwidth provider in the Northeast, and Sidera Networks, the leading provider of tailored, high-capacity communications services to large enterprise, carrier and data center customers, have signed a definitive agreement for a transaction valued at over $2 billion. The merger is reportedly led by Berkshire Partners, a Boston-based investment firm, and management, in a strategic move to acquire and merge both companies.

According to the detailers released, M/C Partners and Pamlico Capital acquired Lightower from National Grid plc in August 2007. Pamlico Capital, a significant Lightower investor, and ABRY Partners, a significant Sidera investor, will remain as investors in the new company. Although still pending regulatory approval, once the merger is complete, the combined company will be led by current Lightower CEO, Rob Shanahan.

“Lightower and Sidera together will offer customers an industry-leading, fiber-based network with a deeply experienced team supporting it,” stated Rob Shanahan, CEO of Lightower. “Both companies have a shared vision of network excellence,customized solutions and superior customer support. Once merged, we will offer customers more services, more routes and more access options with the same high levels of performance, diversity, reliability and support that our customers have come to expect from us.”

Following the merger, the combined company will operate a high-performance, fiber-based network throughout the Northeast, Mid-Atlantic and Midwest, with connections to critical landing sites and exchanges internationally. The combined network will offer customers over 20,000 route miles and provide access to more than 6,000 on-net locations, including commercial buildings, data centers, financial exchanges, content hubs and other critical interconnection facilities.