ExteNet Systems has announced an agreement to acquire Hudson Fiber Network (HFN). The acquisition is anticipated to close in the second half of 2018 after the completion of regulatory approvals. Terms of the agreement were not disclosed.
HFN, headquartered in Paramus, New Jersey, is a premier data transport provider offering high-bandwidth, low-latency fiber networking solutions. The acquisition of HFN will provide ExteNet with additional high-capacity fiber footprint in the populous New York City/New Jersey metro area, alongside other regions of the U.S., and a proven medium to offer enterprise fiber services. Pro-forma for the transaction, ExteNet will have more than 30,000 nodes operational or under construction throughout the U.S.
“ExteNet’s customer-centric approach and purpose-built fiber strategy aligns with our own corporate vision,” added Brett Diamond, CEO of Hudson Fiber Network. “ExteNet’s extensive network and financial and operational resources will help accelerate expansion into key markets across the United States. Our team at Hudson Fiber is excited about the prospects of joining ExteNet and continuing to provide the innovative solutions and exemplary service our customers are accustomed to from us.”
Q Advisors, a TMT global investment banking boutique, is acting as the financial advisor to HFN, with Lowenstein Sandler LLP representing HFN as legal counsel. Reed Smith LLP is representing ExteNet in the transaction.
