Qwest Communications International Inc. (NYSE: Q) announced today that it completed the acquisition of privately held OnFiber Communications, Inc. for $107 million in cash. Qwest announced its intent to purchase OnFiber in May, 2006.
Qwest has a robust portfolio of data services, including metro optical Ethernet, and the OnFiber assets bring additional network facilities from which to deliver the services to businesses in 23 metropolitan areas outside the Qwest 14-state local service territory.
“This makes Qwest easier to do business with because OnFiber gives us an efficient method of delivering services to more business customers in dozens of markets throughout the U.S.,” said Tom Richards, executive vice president, business markets group for Qwest.” Also, OnFiber allows us to introduce the Spirit of Service and our Qwest suite of services to OnFiber’s existing customers. Ultimately, the acquisition was a smart and disciplined approach to enhancing our national presence and accelerating our growth of key products, including Ethernet.”
“Throughout the closing period we focused on ensuring a smooth transition for OnFiber’s customers – most of whom are large businesses and government clients,” continued Richards. “Our national sales organization and OnFiber’s sales team integrate well, and we’re excited about the opportunity to expand those relationships.”
Qwest offers a unique and powerful combination of voice and data solutions for businesses, government agencies and consumers – locally and throughout the country. Customers coast to coast are turning to Qwest’s industry-leading national fiber optic network and its Spirit of Service for quality products and superior customer experience. For more information on Qwest, and its various operating subsidiaries, please go to http://www.qwest.com.