NEW YORK, Oct. 13 -- Metromedia Fiber Network Inc. has signed a definitive agreement to acquire SiteSmith Inc. for $1.36 billion in stock. The deal will close by the end of the year and is subject to customary regulations, said Metromedia Fiber Network.
Global 2000 companies are moving their businesses and mission-critical applications onto the Internet, said Nicholas M. Tanzi, president and CEO of Metromedia Fiber Network. This requires an infrastructure partner who can scale to provide and manage a highly-reliable, high-performance and secure Internet presence worldwide. SiteSmith extends MFN's unique offering and allows us to address all of the managed Internet infrastructure requirements of businesses globally.
Metromedia Fiber Network provides end-to-end optical network solutions for the fiber optics industry. SiteSmith is a provider of Internet infrastructure management services.