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JUNE 26, 2008 -- Host.net, a provider of colocation, network transport, and transit services, has agreed to acquire WV Fiber, a global IP transit and MPLS transport company based in Nashville, TN.
This is the third time in two years that ownership of WV Fiber has changed hands. Integrated Media Holdings, Inc. (IMHI) purchased the carrier in mid-2006 for approximately $1.6 million in cash plus IMHI common stock. IMHI then sold the assets to Ultra Global Investments last November. Terms of that deal were not disclosed.
For its part Host.net says the acquisition combines a top 30 network service provider with a leading provider of managed data and voice services in the southeast United States. According to Host.net, WV Fiber's list of clients include top tier cable, regional local exchange carriers, universities, Internet service providers, and content providers. WV Fiber's multi-national IP transit backbone exchanges in excess of 150 Gbits/sec and interconnects with several settlement free interconnection relationships throughout the United States and Europe.
"The infrastructure and operations of the WV Fiber network that we are acquiring provide a major inflection point for our company," said Jeffrey Davis, Host.net's co-founder and CEO. "The acquisition of the WV Fiber network will provide Host.net with an immediate and significant base of recurring and growing contract revenues in the carrier and wholesale markets."
"This transaction is the perfect opportunity for both companies whose assets, customer base, and highly experienced staff will be instrumental in propelling the organization to new levels," said Tom Turner, chairman of WV Fiber. "We're excited to become part of the highly respected Host.net organization."
The transaction is scheduled to close on or before July 10.
Visit Host.net
Visit WV Fiber
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