A Nesconset telecom and networking company has been bought by a Manhattan broadband provider.
No terms were disclosed in the sale of Long Island Fiber Exchange Inc. (known as LIFE), which comes with "one of the most dense fiber networks on Long Island, adding 900 miles of fiber and 550 lit buildings” to the buyer’s existing network, a news release said.
The buyer is Sidera Networks of Broad Street in the city's financial district.
LIFE also operates broadband networks in Westchester County and in New York City.
"This exciting acquisition is a natural extension of our existing fiber network, strengthening Sidera's leadership position among fiber providers in the New York metropolitan area," Mike Sicoli, chief executive of Sidera Networks, said.
The transaction is expected to close by Dec. 31.
Sidera Networks was formerly called RCN Metro Optical Networks. Its fiber optic network extends along rights-of-way from Maine to Virginia, to Chicago and Toronto.
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