Duke Energy looks to expand its fiber network to SoutheastCreated: 6/28/2010 5:58:02 PM
Duke Energy recently announced it will expand its fiber-optic network to the Southeast region of the United States with the help of a new investment opportunity.
The Charlotte-based company said Alinda Capital Partners will pay $137 million for half of Dukenet Communications in a deal expected to be finished by late September, according to ABC News.
Although the firm will have co-ownership, Dukenets current president, Brad Davis, and his management team will continue to run the companys daily operations, ABC News relays.
The Dukenet network currently controls 5,300 miles of fiber-optic cables in the region, offering customers services, such as data center connectivity and high-speed internet, the report stated. More than four million individuals in Ohio, Kentucky and Indiana comprise Duke Energys customer base.
Another Duke was recently making news in North Carolina, when the Durham-based university announced its intentions to expand its fiber-optic network to employees living downtown. According to a TMCnet report, the universitys project consists of $420,000 worth of new fiber-optic installations and another $580,000 to switch off-campus offices onto the schools network. Fiber Optics News