The deal is expected to close in the second half of 2018 pending regulatory approvals. Financial terms were not disclosed.
HFN is a data transport provider that offers high-bandwidth, low-latency fiber network connections. ExteNet will leverage HFN to extend its high-capacity fiber footprint in the New York City/New Jersey metro area, along with other regions of the United States. Once the deal closes, ExteNet will have more than 30,000 nodes operational or under construction throughout the United States, the company says.
Lisle, Illinois-based ExteNet’s customers include wireless carriers, broadband providers, property owners, enterprises, communities and IoT companies. The firm’s outdoor networks are deployed in a variety of urban, suburban and rural environments. Indoor networks are typically deployed in property verticals like commercial office buildings, sports and entertainment venues, hotels and convention centers, healthcare facilities and transit systems.
Deals, Deals, and More Deals
M&A activity across the IT service provider sector doesn’t seem likely to ease up anytime soon. Buyers are seeking scale while also gaining specific technology expertise or regional footprints.
While MSPs have been consolidating at record rates, activity around infrastructure companies like ExteNet and Hudson Fiber Network has been a bit less frequent. Last year, RapidScale bought Vonage’s hosted infrastructure services, including a mix of managed and cloud services.
Earlier in 2017, Digital Bridge Holdings bought Vantage Data Centers Management from Silver Lake Partners for more than $1 billion. Among Digital Bridge Holdings’ multiple infrastructure and data center players? ExteNet Systems.