ROCHESTER, N.Y., April 30 -- Privately held American Fiber Systems Inc. (AFS) announced it will purchase the operating assets of Marietta FiberNet (MFN), a fiber optic transport business based in Marietta, Ga. MFN is a wholly owned subsidiary of the Marietta Board of Lights and Water, the municipal operating company that supplies utilities to the city of Marietta and surrounding areas.
The $12.2 million cash purchase is expected to close by June 30.
"The MFN unique fiber optic network is highly complementary with the AFS strategy of owning core metropolitan fiber optic assets and leveraging those assets through facilities based competition as envisioned under the Communications Act of 1996," said Dave Rusin, AFS President & CEO. "Operationally, MFN will help AFS operate more efficiently resulting in added value for our shareholders and customers. This investment also advances AFS' unique metropolitan fiber optic facilities asset strategy and affirms our commitment to actively pursue growth opportunities through acquisitions."
MFN's fiber optic network spans 450 route miles covering Cobb County, Fulton County, Atlanta and Norcross.
AFS said it does not see a need for changes to the operations of the business.
"We anticipate this transaction to be seamless for MFN's existing customer base," Rusin said.
For more information, visit: www.americanfibersystems.com