Piscataway-based Hammer Fiber Optics Holdings Corp., a telecommunications company, announced Tuesday it plans to acquire the equity of American Network Inc., a New York-based CLEC.
“American Network’s assets are complimentary to Hammer’s existing assets in New York and New Jersey,” Erik Levitt, Hammer’s CEO, said.
Hammer said American Network has a number of interconnection agreements, wholesale agreements and assets that will help it grow in the Northeast.
“In acquiring American Network we are continuing to solidify our platform,” Kristen Vasicek, Hammer’s chief operating officer, said.
Hammer subsidiaries have CLEC licenses in several states including New Jersey, New York and Florida as well as joint venture agreements with partner CLECs, it said.
“We plan to continue to expand our footprint in the north east, south east, south and north western United States throughout fiscal 2019 and fiscal 2020, focusing on markets where we can deploy our wireless technology both as an operator and in partnership with other operators through our MNSP program,” Levitt said.
The deal is expected to close in February. Financial terms were not disclosed.