MetroNet says that it is investing $130 million in a fiber network in Colorado Springs, its first project in Colorado. Construction is scheduled to begin “in the coming weeks,” with the first customers coming online during 2022.
“Colorado Springs marks the start Metronet’s Colorado growth, where the community will have access to XGS PON technology that is capable of providing multi-gigabit speeds . . . in the very near future,” MetroNet CEO John Cinelli said in a press release. “When we began this journey with the city in July of 2021, they shared their vision of growth and prosperity for their residents and businesses. We are thankful for the opportunity to play a role in the realization of their goals.”
MetroNet is using XGS-PON fiber technology, which is capable of delivering multi-gigabit service. Three other announcements by the service provider this year – in Hickory, NC; Ankeny, IA and Norfolk, VA – referenced speed capabilities as fast as 10 Gbps.
Last month, MetroNet said that it began construction in the Kenworth area of Hickory. The first customers are slated to be activated by the end of the year.
In late January, MetroNet merged with Vexus Fiber. The two companies complement each other. Vexus concentrates on Texas, New Mexico and Louisiana while MetroNet provides service or is constructing networks in more than 120 communities across Indiana, Illinois, Iowa, Kentucky, Michigan, Minnesota, Ohio, Florida, North Carolina, Virginia, Texas, Wisconsin, Missouri and, now, Colorado.
The companies are continuing to operate under their existing brands and with the management teams that were in place at the time of the deal. At that time, the two companies were in Oak Hill Capital’s investment portfolio. Last April, KKR became a MetroNet investor.