AFS to Acquire Marietta Fibernet

American Fiber Systems signs MOU to acquire the operating assets of fiber optic transport business Marietta FiberNet for $12.2M in cash

April 30, 2004

1 Min Read

ROCHESTER, N.Y. -- Privately held American Fiber Systems, Inc. announced today the execution of an exclusive Memorandum of Understanding to purchase the operating assets of Marietta FiberNet (MFN), a fiber optic transport business based in Marietta, Georgia. MFN is a wholly owned subsidiary of the Marietta Board of Lights and Water, the municipal operating company that supplies utilities to the city of Marietta, Georgia and surrounding areas.

The MFN acquisition should provide operational synergies and a growing source of revenue for AFS. The $12.2 million cash purchase of MFN is expected to close by June 30, 2004.

“The MFN unique fiber optic network is highly complementary with the AFS strategy of owning core metropolitan fiber optic assets and leveraging those assets through facilities based competition as envisioned under the Communications Act of 1996. Operationally MFN will help AFS operate more efficiently resulting in added value for our shareholders and customers,” said Dave Rusin, AFS President & CEO. “This investment also advances AFS’ unique metropolitan fiber optic facilities asset strategy and affirms our commitment to actively pursue growth opportunities through acquisitions.”

American Fiber Systems Inc. (AFS)

Subscribe and receive the latest news from the industry.
Join 62,000+ members. Yes it's completely free.

You May Also Like