Cleareon Buys Pangaea, Goes Live With Lit Services

October 6th, 2016 by · 2 Comments

Cleareon Fiber Networks says its network is now ready for service across the NYC metro region.  The company has been completing a dark fiber footprint in and adjacent to Manhattan since rolling out in February.  They have now moved quickly into lit services as well via a bit of M&A.

Cleareon has bought the assets of Pangaea Networks, an Ethernet and fiber operator that declared bankruptcy last year.  They won the auction over the summer, and have quickly taken the company's existing PanMetro 10G Ethernet ring offering to market alongside their metro fiber capabilities.  The move boosts Cleareon's scale significantly, and gets them into a position to hook up enterprises around the tri-state region.

New York and the surrounding metro area has been home to several new fiber companies over the last few years.  Consolidation across the region opened some opportunities for players with local knowledge to step into the gap.

 

Categories: Ethernet · Mergers and Acquisitions · Metro fiber

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2 Comments So Far


  • Mr anonymous says:

    Bought Pangeaea? Only leased assets …. what did they buy? Sounds like someone at clarean is squandering investor money. Soon they will be in bankruptcy having others pick through their pile of bones. Telecom morons never cease to amaze

    • Gdub says:

      I was told that Pangaea leased fiber from Cleareon. How much? I don’t know, but if Cleareon brings those Pangaea assets on to their network those margins increase.

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