Elantic Networks, a new company backed by MC Venture Partners, Bank of America Capital Investors and BB&T Capital Partners, has agreed to acquire Dominion Telecom for an undisclosed sum. After closing, the Dominion Telecom name will be changed to Elantic Networks.
Dominion Telecom provides wholesale fiber bandwidth and carrier services to long-distance, international, wireless carriers, competitive local exchange carriers (CLECs) and large enterprises across its extensive fiber optic network.
Elantic Networks has entered into an agreement with Cavalier Telephone, LLC to operate and manage the network on Elantic’s behalf. Cavalier Telephone currently has over 850 employees and operates one of the largest telecommunications networks in the Mid-Atlantic area serving over 150,000 business and residential customers.
- Dominion Telecom is a facilities-based, inter-exchange and emerging local carrier with 346,000 fiber miles (6,500 route miles) currently. The company is an affiliate of Dominion, one of the largest producers of energy in the US with extensive assets in oil, natural gas and electricity.