Dominion closes Telergy deal
Dominion Telecom continues to swallow long-haul networks from bankrupt Telergy. The latest: the acquisition of Telergy's network in upstate New York.
A New York Bankruptcy Court approved Dominion Telecom's bid for the long-haul and metro fiber network. The facilities-based broadband service provider will fork over $7.4 million for the assets. In the past two years, Dominion Telecom has purchased Telergy's long-haul fiber between Buffalo, Syracuse, Albany and New York City.
Dominion Telecom views the acquisition as an opportunity to gain entree into Canada with long-haul conduit and fiber facilities that link Albany, N.Y. with Montreal. The goal by the end of 2003 is to expand Dominion Telecom's fiber-optic network from 346,000 fiber miles to more than 400,000 fiber miles.