Under terms of the agreement, 4Connections will operate as a wholly-owned subsidiary of Optimum Lightpath. The existing management team and employees will remain based in Parsippany, New Jersey.
Dave Pistacchio, executive vice president and general manager of Optimum Lightpath, said: With the acquisition of 4Connections, which adds the capability of nearly 500 route miles of fiber across key areas of New Jersey, Optimum Lightpath can better serve New Jersey businesses with the expertise, network and services in place to address the demand for fiber ethernet connectivity in key markets throughout the state.
In December 2007 Optimum Lightpath announced that the business unit has experienced a 90 percent increase in Ethernet revenue growth for Q3 2007, compared to the same quarter 2006. The company’s continued annual growth further validates the company’s transition to a pure metro ethernet strategy initiated in January of 2005.
According to the Insight Research Corporation, the U.S. ethernet services market is expected to grow from $940 million in 2006 to more than $5 billion in 2012. This accelerated adoption of carrier ethernet, and Optimum Lightpath’s success, are results of medium and large business’s requirements for deploying data intensive and mission critical applications over a fully fiber optic network built for business.
