Some metro fiber has changed hands out in the Midwest today. Ohio-based Everstream has returned to the dealmaking table with the announcement of the purchase of Arch Fiber Networks.
Arch Fiber Networks operates a 75-mile conduit system currently holding 55 route miles of fiber in St. Louis, Missouri. That footprint includes two ducts crossings underneath the Mississippi to East St. Louis, Illinois. Some 32 buildings are on-net, with 39 more on-net ready with conduit in place.
The expansion into Ohio fits interestingly with Everstream's expansion plans, adding a new market adjacent to the company's dense footprint in Ohio and Michigan and not far from its assets in Wisconsin and Illinois.
Now backed by AMP Capital, Everstream announced plans to spend some $300M on its fiber footprint, investing both organically and inorganically. They will likely move to light up Arch Fiber's footprint and expand from there, both within St. Louis and into the surrounding suburbs.
I'd expect Everstream to be actively looking for other regional assets to add to its footprint.