Lumos Networks, which offers fibre-optic connectivity in the mid-Atlantic region, has announced the completion of its sale to EQT Infrastructure, a fund operated by ‘alternative investments firm’ EQT Partners. Under the terms of the merger agreement, Lumos Networks stockholders have received USD18.00 in cash for each share of common stock that they hold. As a result of the completion of the transaction, shares of Lumos Networks common stock have been removed from listing on the NASDAQ Global Select Market. The takeover was agreed in February 2017, and had an enterprise value of USD950 million.
TeleGeography notes that Lumos Networks serves carrier, enterprise and data centre customers, and offers end-to-end connectivity in 24 markets in Virginia, Pennsylvania, West Virginia, Maryland, Ohio and Kentucky. The telco’s networks span 9,204 fibre route miles and 475,507 total fibre strand miles, connecting 1,297 unique fibre-to-the-cell sites and 36 data centres, including seven company owned co-location facilities.