WASHINGTON -- Cogent Communications Group, Inc. (AMEX: COI), a Tier One, next generation, optical Internet service provider, reported today that is has acquired key assets from FiberCity Networks, a provider of Internet and Optical Ethernet services headquartered in the New York Metropolitan Area. Included in the acquisition are a vast majority of FiberCity’s customer base as well as their building access agreements. As part of the acquisition agreement, FiberCity Networks will cease operations.“Cogent has surgically taken the best assets from FiberCity and will integrate them into Cogent’s existing footprint and business plan,” said Dave Schaeffer, CEO Cogent. “During this consolidation phase of our industry, Cogent will continue to examine the assets of competitors and companies like FiberCity, looking for acquisitions that accelerate our growth and can bring more Internet traffic onto our backbone.”“We approached Cogent after considerable effort and review. Now that we are in the middle of the transition, we are even more certain that Cogent was the right recommendation for our customers and for our organization,” said Jim Burns, CEO FiberCity Networks.Cogent Communications Inc.FiberCity Networks Inc.