American Fiber Systems to Acquire IDACOMM.AFS A distributed file system for large, widely dispersed Unix and Windows networks from Transarc Corporation, now part of IBM. It is noted for its ease of administration and expandability and stems from Carnegie-Mellon's Andrew File System. AFS - Andrew File System Continues Expansion Strategy to Add Las Vegas, NV, Reno, NV and Boise, ID to Growing Metro Network Footprint ROCHESTER, N.Y. -- Privately held American Fiber Systems, Inc. today announced that it has signed a definitive agreement to acquire IDACOMM, the communications subsidiary of IDACORP (NYSE NYSE See: New York Stock Exchange : IDA Ida (ē`dä), city (1990 pop. 91,859), Nagano prefecture, central Honshu, Japan, on the Tenryu River. It is an agricultural market and railway junction. ). IDACOMM, is a competitive metro network provider, with operations focused in Nevada and Idaho, specializing in fiber-based transport services to both carrier and enterprise customers. IDACOMM's fiber rich network includes over 45,000 local and long haul fiber strand miles with approximately 150 buildings on net in Las Vegas, NV, Reno, NV and Boise, ID. "IDACOMM's dense fiber optic network is highly complementary with the AFS strategy of providing our customers with a reliable alternative to AT&T, Qwest and Embarq," said Dave Rusin, AFS President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "This investment also affirms our commitment to actively pursue growth opportunities through acquisitions." This accretive transaction for AFS is expected to close as early as the end of the fourth quarter of 2006 (subject to regulatory approvals) and follows AFS' announcement last month of their consolidation with USCarrier Telecom Holdings, LLC, a long haul network provider to second tier markets in Southeastern United States. Jon Yount, AFS SVP of Operations noted, "We are looking forward to leveraging IDACOMM's operational strengths throughout the rest of our organization and to expanding the breadth and depth of services that we can offer our customers." "Similar to our other markets, these cities are all areas experiencing high growth," continued Yount, "Forbes magazine named Boise 'The Best Place in the USA for Business' and FORTUNE ranked Las Vegas as the #2 city in the country in which to do business; further, the latest US Census listed Reno as one of the fastest growing metro markets in the U.S. These are clearly desirable locations for us to expand our presence." "AFS is well respected in the telecommunications industry," said Rich Coyle, Executive Vice President, IDACOMM. "We expect both our customers and employees will benefit from AFS' leadership and focus within this industry. We look forward to working with the entire AFS team." About American Fiber Systems American Fiber Systems provides metropolitan fiber optic network infrastructure and wholesale transport services to carriers and large enterprises. AFS enables its customers to easily and reliably connect to a city's most important points of communications presence, including ILEC (Incumbent Local Exchange Carrier) A traditional local telephone company such as one of the Regional Bell companies (RBOCs). Contrast with CLEC. See ELEC and TELRIC. central offices and wire centers; CLEC (Competitive Local Exchange Carrier) An organization offering local telephone service that is not one of the traditional telephone companies. The Telecommunications Act of 1996 allowed competition to the incumbent telcos (ILECs), enabling new companies (CLECs) PoPs; Internet Service Provider Internet service provider (ISP) Company that provides Internet connections and services to individuals and organizations. For a monthly fee, ISPs provide computer users with a connection to their site (see data transmission), as well as a log-in name and password. (ISP) and data center locations; Inter-exchange "carrier hotels;" wireless providers and cable company head ends; and Fortune 1000 companies. AFS has deployed over 90,000 miles of high-capacity, high-bandwidth metropolitan fiber optic cable Noun 1. fiber optic cable - a cable made of optical fibers that can transmit large amounts of information at the speed of light fibre optic cable transmission line, cable, line - a conductor for transmitting electrical or optical signals or electric power since 2000 in several cities, including Cleveland, OH; Kansas City KS/MO; Minneapolis/St. Paul, MN, Nashville, TN and Salt Lake City, UT. AFS has over 500 capacity enabled on-net buildings and supports an addressable market teledensity of over $9 billion in annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. telecommunications services. American Fiber Systems is a privately held venture-backed company. www.americanfibersystems.com |
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