DQE Communications has entered the M&A fray with the purchase of Met-Net communications, which also operates in the Pittsburgh metro area. Met-Net specializes in Metro Ethernet and Ethernet over copper to the enterprise, and they do it via fiber which is largely leased from, yes, DQE Communications - so this is mainly consolidating customers onto the fiber platform and thus increasing depth of penetration.
DQE Communications is owned by the energy utility Duquesne Light Holdings. I have in the past thought the company might wind up for sale in the fiber M&A surge we've been watching unfold over the past year and a half. Prior to this transaction DQE had around 1,150 miles of fiber hooking up more than 628 buildings, making them one of the deeper single-market independent fiber assets out there.
Instead, they seem to be planning to become more active in driving value from those fiber assets themselves, moving further out of the shadows and deeper into the Pittsburgh enterprise market. DQE is planning expansion into more regions within the greater Pittsburgh metro area, including Butler and Westmoreland counties later this summer, followed by Washington County.
The deal was finalized as of July 1, and financial details were not disclosed.