ExteNet Systems has announced the completion of its acquisition of Hudson Fiber Network (HFN). Terms of the agreement were not disclosed.
“Businesses require access to a fast, reliable and secure broadband infrastructure, especially as more rely on cloud-hosted applications and services,” said Ross Manire, president and CEO, ExteNet Systems. “Besides enhancing our fiber footprint in key markets, Hudson Fiber provides us a blueprint to address the advanced communication needs of enterprises. I am extremely pleased to welcome the Hudson Fiber team and their clients to the ExteNet family. Our people, processes and customer service differentiate us, and I am extremely pleased that this transaction further strengthens our team.”
Brett Diamond, CEO, Hudson Fiber Network, added, “The combination of ExteNet and Hudson Fiber ensures a comprehensive set of outdoor, in-building and enterprise connectivity solutions for service providers, property owners and enterprise clients. I am looking forward to joining ExteNet’s management team and leveraging their purpose-built fiber network, people and resources to serve our growing customer base better.”
Effective immediately, Brett Diamond will report into Ross Manire and lead ExteNet’s Optical Network Solutions (ONS) business unit. The ONS business serves enterprises with advanced connectivity solutions including dark fiber, dedicated internet access (DIA), secure private networks and cloud connectivity services.
Q Advisors, a TMT global boutique investment bank, acted as the financial advisor to Hudson Fiber, with Lowenstein Sandler LLP representing them as their legal counsel. Reed Smith LLP represented ExteNet in the transaction.