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Sidera Acquires New York Area Service Provider

Telecom service provider acquisition frenzy continues with Sidera's second M&A event in three weeks.

It's Sidera's second acquisition in three weeks, and will add to the New York-based provider's existing fiber optic network an additional 900 miles of fiber and 550 lit buildings.

"This exciting acquisition is a natural extension of our existing fiber network, strengthening Sidera's leadership position among fiber providers in the New York Metropolitan area," said Mike Sicoli, Sidera CEO, in a statement.

Financial terms of the deal were not disclosed. Sidera expects the acquisition to be completed by Dec. 31, and LIFE's team will join Sidera's.

"We are extremely pleased to become a part of the Sidera team," said LIFE CEO and Founder Mike Power, in a statement. "It provides LIFE with access to the capabilities of a broader and highly sophisticated network provider while maintaining the responsiveness and customer orientation that our customers have come to expect."

LIFE is the second acquisition within the past three weeks for Sidera, formerly known as RCN Metro Optical Networks. On Nov. 22, Sidera confirmed an acquisition of Cross Connect Solutions, a Philadelphia-based carrier-neutral colocation provider, adding 28,000 square feet of colocation space to Sidera's existing 100,000.

Sidera's activities have been part of an overall wave of strategic acquisitions in the telecom service provider space this year, especially among fiber specialists.

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