In The News -
Feb 04, 2020 -
By Crain’s Cleveland Business
Everstream, a Cleveland provider of fiber-based internet service here and throughout the Midwest, said it has completed the purchase of a more than 200 miles of fiber network and the competitive local exchange carrier (CLEC) operation from Indianapolis-based DataBank.
Terms of the deal, which was announced in October, were not disclosed. The acquired assets previously were owned by telecommunications company LightBound, which was bought by DataBank at the end of 2018.
Everstream said in a news release on Monday, Feb. 3, that the purchase is part of its strategy “to provide reliable, high-bandwidth connectivity to enterprises in the Indianapolis metro area and throughout the Midwest.”
With the deal’s close, Everstream said in the release, it is “immediately able to provide connectivity” in more than 75 buildings in Indianapolis as well as in three of that city’s western suburbs.
Everstream president and CEO Brett Lindsey said in a statement that the company now offers Indianapolis-area businesses “direct access to our more than 13,000 miles of fiber and connections to dozens of data centers throughout the Midwest.”
In October 2019, Everstream announced its entry into the Indianapolis market with the acquisition and planned buildout of a network that will total 800 route miles. The company said it’s making an investment of $38 million throughout the Indianapolis area as part of a network investment totaling $250 million in the Midwest in 2020.
