CLEVELAND -- Everstream, the business-only fiber network, today announced that it will invest more than $250 million in the buildout of its dense fiber network in 2020 as part of an organic and acquisition-based growth strategy that will position the company as the premier fiber provider in the Midwest. The strategy also includes entry into five new Midwest markets, helping Everstream reach its goal of more than 15,000 route miles of fiber deployed by year's end.
"Everstream's goals for 2020 are aggressive," said Everstream President and CEO Brett Lindsey. "We actively continue our network build to provide high-capacity, low-latency connectivity to businesses throughout the Midwest. At the same time, we are also strategically pursuing acquisition and partnership opportunities that will help us reach our goals more quickly while densifying the network already in place. Because of the tremendous growth we're experiencing, 2020 is going to be an exciting year for Everstream and our customers."
In 2020, Everstream plans to:
Invest more than $250 million in new network builds.
Bring high-speed connectivity to five additional Midwest markets, including Chicago, St. Louis, Missouri; Dayton, Ohio; Fort Wayne, Indiana; and Louisville, Kentucky.
Establish local offices in these cities and hire more than 100 total new employees.
The strategy also includes providing customers direct connection to Everstream's other markets as well as connectivity to Everstream's 36 state-of-the-art data centers across the Midwest.
Everstream's 2020 plans follow a successful 2019, in which the company invested more than $70 million in new network construction and grew total route miles across its markets by 30%, to a total of more than 13,000. Everstream brought its high-capacity, low-latency connectivity services to Columbus, Ohio; Indianapolis, Indiana; and Milwaukee, Wisconsin, and added fiber to densify its network in Cleveland, Ohio. Two acquisitions also boosted the company's Midwest presence.
Everstream's enterprise-grade network delivers robust business fiber services, including dedicated internet access, dark fiber, Ethernet and data center solutions. The company's advanced fiber network offers direct peering with all major carriers and cloud hyperscalers. With high-speed, low-latency connections, it provides converged internet, voice and data services at speeds of up to 100 Gbps.
Over the next two years, approximately 60% of service providers (both large and small) will adopt virtualization on a wide scale across their networks, according to the latest survey report from Ovum. Why are providers making these moves? Is there an easy way to start?
Learn how and why service providers are using virtualization to transform their networks. This webinar will look at how providers are leveraging virtualization to create more flexible and agile networks while also providing a better customer experience. Expert speakers from netElastic and Heavy Reading will address the industry drivers for network virtualization, the benefits that can be realized, the challenges to face and the results of virtualization being achieved by providers today.
Key topics will include:
Current network infrastructure and the move to virtualization
Benefits and challenges of network virtualization
How providers can get started
Service provider success stories: the decision to virtualize, the solution, and results