Apr 30, 2004 : American Fiber Systems Acquires MFN

📅 April 30, 2004 - American Fiber Systems (americanfibersystems.com) (AFS), a provider of dark fiber metropolitan networks and transport services will acquire Marietta FiberNet (mfn.net), a fiber optic transport business based in Georgia, for $12.2 million in cash, the company said on Friday. Marietta FiberNet provides voice, data and Internet services to enterprises in the north metro Atlanta area. Its fiber optic network spans 450 route miles.

American Fiber Systems said the acquisition gives it a market footprint of $10 billion in annual telecommunications services.
"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. Operationally MFN will help AFS operate more efficiently resulting in added value for our shareholders and customers," says Dave Rusin, president and CEO of American Fiber Sytems. "This investment also advances AFS' unique metropolitan fiber optic facilities asset strategy and affirms our commitment to actively pursue growth opportunities through acquisitions."
AFS said it plans to centralize its national operations in Marietta, Georgia after it completes the acquisition, which is expected to take place before June 30, 2004.

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