Pilot Fiber buys Boldyn's NY–NJ network with $330M from Fengate
What's the deal? Pilot Fiber will acquire the New York and New Jersey fiber network of Boldyn NetworksDealroom has a profile for this one. Try Dealroom →, funded by an investment from Canadian alternative investment manager Fengate Asset ManagementDealroom has a profile for this one. Try Dealroom →. Fengate is providing Pilot with over $330 million in new financing for the acquisition and continued growth. The transactions are expected to close in 2027, pending regulatory approvals.
What each side brings: Pilot is an enterprise connectivity provider in the New York metro area that owns and operates its own fiber network. Boldyn adds more than 860 route miles of fiber across New Jersey commercial corridors and expanded reach into Brooklyn, Queens, the Bronx, and Staten Island.
What's the endgame? On closing, Pilot's owned footprint will exceed 1,600 route miles of fiber, connecting more than 1,200 buildings and 50 data centers. The deal — combined with Pilot's recent purchase of Extenet Systems' enterprise fiber business — is expected to increase network diversity for enterprise, carrier, and wholesale customers.
Who stays in charge? Pilot founder and chief executive officer Joseph Fasone will continue to lead the company. "Pilot customers choose us because we own the network and move fast, and that will not change," he said.
Why now? Fengate framed the deal around rising demand in the region. "The greater New York City market is one of the most important business markets in the world, and this investment creates a premier fiber platform with the assets, talent, and operating model to capitalize on growing demand," said Warren Roll, managing director and head of digital infrastructure at Fengate.
The signal: Fengate, which manages more than US$9 billion and has invested in infrastructure since 2006, is betting on fiber as a digital infrastructure play. The move reflects continued consolidation of enterprise fiber assets around dense, high-value metro markets.
Read more: pr.sacramentooracle.com
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