(Image Source: ZenFi Networks)
Communications infrastructure company ZenFi Networks has wrapped up its merger with New Jersey-based Cross River Fiber, creating a new regional fiber optic network spanning the New York-New Jersey metro area.
The combined company now owns more than 700 route miles of fiber optic network, with about 68 percent of that added from Cross River Fiber, and 47 colocation facilities, as well as 119 on-net buildings. The majority of on-net buildings (about 75 percent) are in the legacy Cross River Fiber footprint. ZenFi networks has 6,000 outdoor wireless locations under contract throughout New York City, including the outer boroughs.
With the merger, ZenFi also added three unique special purpose tower sites that are designed and built to serve the high frequency trading industry.
ZenFi Networks will now provide lit services previously offered by Cross River Fiber, as it continues to provide fiber optic network, distributed colocation, and wireless siting solutions throughout the metro region.
“We celebrate a new milestone as we formally merge two of the region’s most highly-regarded communication infrastructure providers into one agile, innovative organization dedicated to delivering solutions to clients more efficiently,” says Ray LaChance, CEO of ZenFi Networks, in a statement. “This transaction enhances our network reach, deepens our product portfolio, and delivers a premier regional communications network infrastructure that is the foundation for 5G network deployments and tomorrow’s evolving network technology needs.”
In comments emailed to CED, La Chance also said that the company anticipates a further expansion outside of the New York-New Jersey metro region.
“Our customers have asked us to do it and we know there’s a need for our expertise in dense, urban areas,” La Chance explained. He noted that the company is considering both buy and build options.
As for leadership makeup of the combined company, La Chance will continue on as chief executive, with former Cross River Fiber CEO Vincenzo Clemente taking on the role of president and COO of ZenFi Networks. Victoria Lamberth, formerly COO at ZenFi, is now the company’s CRO.
ZenFi’s CFO Michael Brescio will maintain his current position, while Rob Sokota, previously Cross River Fiber’s chief administration officer, will take on the same role at the combined company.
