MIAMI South Reach Networks, an established Florida based telecommunications infrastructure provider that constructs, owns and operates a Metro and Long-Haul Fiber Optic Network and Carrier Class Data Centers, announces today that it has acquired the Florida-based fiber and colocation assets of Resurgence Infrastructure Group (Resurgence), the owner and operator of a contiguous long-haul dark fiber network along the East coast of Florida with extended reach into Atlanta, Ga. The acquisition of this strategic network includes over 120,000 fiber miles of available capacity from Jacksonville to Miami, five neutral colocation facilities, key metro networks in Jacksonville and Boca Raton, Fla., and direct fiber connectivity to multiple submarine cable landing stations and data centers throughout the state. The acquisition further enhances South Reach Networks' already robust network infrastructure located in downtown Miami. Financial terms of the transaction were not disclosed.
Following the sale of its Florida network, Resurgence will continue to own and operate its contiguous dark fiber network in Georgia, including 80,000 fiber miles of available capacity extending from Atlanta to Jacksonville. Resurgence will also still own approximately 55 miles of fiber from Jacksonville to the northern Georgia border. The South Reach and Resurgence networks will remain a contiguous inter-connected network.
The company's acquisition of this fiber network and colocation facilities from Resurgence further demonstrates South Reach Networks' commitment to augmenting organic growth via strategic acquisitions. With the acquisition, South Reach Networks expands its total fiber footprint to over 400 route miles and will have on net presence into the top Tier 1 data centers and cable landing stations throughout Florida.
South Reach Networks' acquisitions follow the company's rebrand launch in 2019, backed by private equity firm, Turning Rock Partners, and orchestrated by telecom industry veterans Michael Sevret and Jason Cohen. Since joining the company, in addition to overseeing a successful rebrand, Sevret and Cohen have led these key acquisitions, supporting the growth of the company and its connectivity throughout Florida.
Overall peak usage on US cable networks continues to flatten out and even decline slightly, but sustained higher levels of usage on the upstream path have persisted, according to the latest data from the NCTA.
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?
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