Cogent has acquired the assets of Aleron Broadband, including customers, network, employees, and working capital

October 25, 2004

1 Min Read

WASHINGTON -- Cogent Communications Group, Inc. (AMEX: COI), the fast growing, next generation optical Internet service provider, announced today that it has acquired the assets of Aleron Broadband Services, formally known as AGIS Internet, including its customer base and network. As part of Cogent's sixth acquisition of the year, Cogent will retain all 25 Aleron employees nationwide and will relocate Aleron offices from Virginia to Cogent's Georgetown headquarters.

Through the acquisition, Cogent has also received over $18 million in cash to be used for a variety of purposes including network expansion, marketing and sales activities in the U.S. and abroad, and the potential acquisition of additional assets. Ken Peterson of Columbia Ventures Corporation will join Cogent's board as a result of the transaction. Further details were not disclosed.

"By acquiring assets at cents on the dollar, Cogent continues to add a significant number of customers and large amounts of traffic to our network," said Dave Schaeffer, CEO of Cogent Communications. Schaeffer added, "Cogent has reached critical scale through a rapid acquisition strategy that continues to increase our network efficiency and allows us to remain competitive in a consolidating marketplace.

Cogent Communications Group Inc.

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