Qwest to Buy OnFiber Communications for $107M
A Reuters newswire article, via eWeek, reports that:
Local telephone operator Qwest Communications International Inc. said on Monday it had agreed to buy privately held network solutions provider OnFiber Communications Inc. for $107 million to help deepen its out-of-region metropolitan coverage.More here.
Qwest has an option, until the deal closes, to substitute up to $35 million of Qwest shares for cash. The deal is expected to close in the third quarter and to add to Qwest's earnings and free cash flow starting next year.
Austin, Texas-based OnFiber specializes in high-bandwidth, all-fiber solutions serving mainly large business and government clients. It operates an all-optical network in 23 metropolitan areas with a full offering of access and transport services.
posted by Fergie @ 5/15/2006 08:19:00 AM
0 Comments:
Post a Comment
<< Home