AUSTIN, Texas, May 6 -- OnFiber Communications Inc., provider of optical metropolitan connectivity, announced it has acquired network assets and customer contracts of Sphera Optical Networks Inc. for approximately $2.3 million as part of Sphera's reorganization filing under Chapter 11.
The acquisition will give OnFiber access to four new metropolitan markets, an expanded customer base and more than $400,000 of additional monthly revenue. With this acquisition, OnFiber will extend its network reach to ten markets: Atlanta, Chicago, Dallas, Houston, Los Angeles, New York City, Philadelphia, San Jose, Seattle and Washington, D.C.
Through the purchase of Sphera metro optical networks, OnFiber secures access to four new markets -- Atlanta, Chicago, Los Angeles, and New York City -- and augments its existing Washington, D.C., market. This purchase will expand OnFiber's traffic aggregation points from 32 to 53, significantly increasing the connectivity options in the metro core.
"Acquiring assets in this challenging market shows the viability of OnFiber as a metro access service provider," said Keith Mayberry, Analyst, RHK. "Companies like OnFiber that are able to expand their networks and obtain new customers by purchasing distressed assets will be well positioned once the market turns around."