With the purchase, OnFiber, which provides high-speed telecommunication services to multi-tenant buildings, adds four markets--Atlanta, Chicago, Los Angeles and New York City--and gains an additional $400,000 a month in revenue. It also has operations in Dallas, Houston, Philadelphia, San Jose, Seattle and Washington, DC.
"This purchase is a natural progression of OnFiber's business strategy," Danny Bottoms, president and CEO, said. "We will be able to cost-effectively expand our network footprint to penetrate new markets and offer our customers more options."
Boston-based Sphera was the first telecommunications provider to use Dense Wavelength Division Multiplexing in the local access market. DWDM allows providers to send nearly 100 times more information-data or voice-over a single fiber as opposed to traditional methods of transmitting information. OnFiber has raised $134 million in two rounds of venture funding.
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