Apparently, December 1 was the target date for many of the fiber M&A’s of 2010 that had remained outstanding. Along with the completion of the Lightower/Lexent and Windstream/Hosted-Solutions deals I mentioned already there were no less than three more.
Largest amongst them was of course the Windstream purchase of KDL/Norlight for $818M, which furthers its evolution into something more than a rural ILEC. Windstream (NYSE:WIN, news, filings) also provided a fascinating map detailing its combined fiber assets, CLEC territories, ILEC territories, and data center properties.
Meanwhile, nTelos (NASDAQ:NTLS, news, filings) finalized the purchase of FiberNet from One Communications. The $169M deal adds a net of 1200 route miles and 30K customers to the company’s network. Fibernet did $76M and $25M in revenue and EBITDA in 2009. That should bring NTELOS above the $600M revenue threshold overall, while effectively doubling the company’s competitive wireline business.
And Court Square finalized its purchase of Fibertech Networks, a deal about which we have never had much direct information. It was financed by a combination of funds from Court Square, an investment by Fibertech’s senior management, and apparently a $270M senior debt facility. That last item suggests that Fibertech may have a pretty good war chest to move forward with.
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