Time Warner Cable Inc. announced that it has completed its previously announced $600 million acquisition of DukeNet Communications. As a result, Time Warner Cable adds more than 8,700 route miles to its fiber-optic network that serve business customers in the Southeast, including key markets in North Carolina and South Carolina.
“DukeNet and Time Warner Cable are perfect complements to each other and the customers we serve,” said Phil Meeks, executive vice president and COO for business services at Time Warner Cable. “We welcome our new customers and look forward to serving their communications needs with our network’s expanded reach, additional product offerings and enhanced level of customer service. We’re also very excited for our existing customers, as this additional fiber capacity will enable us to extend our fiber reach and help them connect to our network from more business locations.”
Time Warner Cable Business Class (TWCBC) anticipates utilizing the additional fiber to connect and serve business customers who need services such as voice, high-speed Internet and cloud-enabled hosting. In addition, TWCBC anticipates utilizing the additional fiber capacity to further grow its carrier business, which provides network access to wireless providers.
Prior to the transaction, DukeNet was jointly owned by Duke Energy Corporation and investment funds managed by Alinda Capital Partners.