MetroNet Fiber Inc., which provides fiber-based Internet, TV and phone service in more than 50 cities in Indiana, Illinois and Kentucky, agreed to acquire LightSpeed Fiber Communications, a Michigan-based fiber-optic Internet company serving Lansing, Grand Rapids, Southfield, Huntington Woods and Ypsilanti. LightSpeed also operates a 2,400-mile U.S. fiber optic backbone, spanning from Chicago to Atlanta to Washington DC. This acquisition will allow MetroNet to access LightSpeed’s already laid framework of fiber-optic cable in these areas and optimize these markets to receive MetroNet’s 1 Gigabit speed or higher. Financial terms were not disclosed.
“The vision and values of LightSpeed Fiber marry well with our goal of expanding our cutting-edge fiber-optic telecommunication services to more cities while remaining customer-focused,” stated MetroNet President John Cinelli. “Our plans for Michigan are sustainability and growth. This investment represents a strategic opportunity to offer gigabit-speed internet with no data caps, full-featured fiber phone service, and fiber IPTV to even more customers. We are thrilled to join forces with LightSpeed Fiber and welcome them to the MetroNet family.”
Jason Schreiber, current LightSpeed CEO, will continue leading the Michigan market while taking on the role of Chief Technology Officer for MetroNet as the partnership moves forward.
http://www.MetroNetinc.com
