January 06, 2014 — NEW YORK–(BUSINESS WIRE)–Time Warner Cable Inc. (NYSE:TWC) today announced that it has completed its previously announced acquisition of DukeNet Communications, LLC. As a result of the $600 million transaction, Time Warner Cable adds more than 8,700 route miles to its fiber optic network that serve business customers in the Southeast, including key markets in North Carolina and South Carolina.
“DukeNet and Time Warner Cable are perfect complements to each other and the customers we serve,” said Phil Meeks, Executive Vice President and Chief Operating Officer for Business Services at Time Warner Cable. “We welcome our new customers and look forward to serving their communications needs with our network’s expanded reach, additional product offerings and enhanced level of customer service. We’re also very excited for our existing customers, as this additional fiber capacity will enable us to extend our fiber reach and help them connect to our network from more business locations.”
Time Warner Cable Business Class (TWCBC) anticipates utilizing the additional fiber to connect and serve business customers who need services such as voice, high-speed Internet and cloud-enabled hosting. In addition, TWCBC anticipates utilizing the additional fiber capacity to further grow its carrier business, which provides network access to wireless providers. TWCBC is a leader in this industry and last summer passed the milestone of providing services for more than 10,000 cell towers around the country.
Prior to the transaction, DukeNet was jointly owned by Duke Energy Corporation and investment funds managed by Alinda Capital Partners.