Looking Glass to Acquire Lightwave

OAK BROOK, Ill. -- Looking Glass Networks Inc., a facilities-based provider of metropolitan data transport services, announced today that it has signed a definitive agreement to acquire the assets and customer contracts of Lightwave Communications, Inc., a Maryland-based provider serving major cities in the Northeast. The Lightwave acquisition adds approximately $10 million dollars of annualized revenue to Looking Glass, expands its network reach, and increases product capability for lower speed services including DS-1’s (1.55 Megabits per second).With this acquisition, Looking Glass expands its market presence by adding new metro networks in Baltimore and Philadelphia and extending its existing networks in New York, Newark, NJ, Northern Virginia and Washington D.C. Lightwave’s DS-1 and DS-3 core service offerings enhance Looking Glass’ diverse lit service, dark fiber and collocation product offerings. The addition of Lightwave’s “points of presence” will further expand Looking Glass’ connectivity to key Central Offices and carrier hotels along the Eastern seaboard. Finally, compatible product platforms combined with network synergies will allow for the seamless integration of technology — resulting in the immediate availability of expanded service and market offerings to both Looking Glass and Lightwave customers.“The substantial operating synergies this acquisition brings will allow us to immediately provide added value and improved services to both our customers and Lightwave’s customers,” said Lynn Refer, CEO, Looking Glass Networks. “The Lightwave acquisition leverages our existing network and management infrastructure and is a profitable addition to Looking Glass. In addition, it fulfills an important need of our existing customers interested in purchasing DS-1 services from us on a cost-effective basis. Lightwave has also built good commercial relationships with its primary vendors that we expect to build on and expand.”Looking Glass NetworksLightwave Communications Inc.