There's been some more consolidation in the fiber sector this week. ExteNet Systems has made its second move within the New York metro area with an agreement to acquire Hudson Fiber Network.
ExteNet got started with distributed network systems, focusing on opportunities related to small cells. But they have shown an increasing appetite for more general fiber and network assets. In November, they closed on the purchase of Axiom Fiber Networks, which was building out a new metro fiber network within Manhattan.
The purchase of HFN will give ExteNet some 30,000 nodes, including those under construction. In addition to adding fiber depth in NYC, the deal gives ExteNet an entry into a wider variety of carrier and enterprise markets. HFN has a national network footprint as well as connectivity to both London and the Far East.
It seems likely that ExteNet's appetite for consolidation will continue beyond HFN, although I'm not yet sure who they might target next. Financial terms for the HFN deal were not disclosed. Q Advisors acted as the financial advisor to HFN.
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