Altice USA (NYSE: ATUS) on Dec. 1 announced the closing of its previously announced sale of 49.99% of its Lightpath fiber enterprise business to Morgan Stanley Infrastructure Partners (MSIP) for an implied enterprise value of $3.2 billion.
Altice USA will retain a 50.01% interest in Lightpath and maintain control of the company. Lightpath is a fiber-based bandwidth technology platform enabling businesses in the greater New York Metropolitan region to innovate on emerging systems-based applications.
“We are pleased to have closed this transaction and partner with Morgan Stanley Infrastructure Partners to support ongoing and new growth initiatives, improve operational performance and provide strategic and financial flexibility for Lightpath,” commented Dexter Goei, Chief Executive Officer, Altice USA. “This partnership enables us to focus on distinct opportunities for value creation and long-term growth for Lightpath while continuing to provide best-in-class products and services to enterprise customers.”
Delivering advanced broadband, voice, security, and managed services with 100% fiber optic network connectivity, Altice USA notes that Lightpath powers businesses to meet their customers’ evolving needs. As of September 30, 2020, Lightpath’s extensive and deep fiber network powered 11,700 connected buildings across more than 18,600 route miles, including owned and Altice USA route miles.