Altice USA has agreed to sell 49.99% of its Lightpath fiber enterprise business to Morgan Stanley Infrastructure Partners (MSIP) for an implied enterprise value of $3.2 billion.
The introduction of MSIP as a strategic investor will support ongoing and new growth initiatives at Lightpath, improve operational performance and provide strategic and financial flexibility, enabling Lightpath to focus on the distinct opportunities for value creation and long-term growth.
Lightpath provides advanced fiber, Ethernet, data transport, IP-based virtual private networks, Internet access, Managed Services, telephony services, including session-initiated protocol (SIP) trunking, and VoIP services to the business market in the New York metropolitan area.
As of June 30, 2020, Lightpath had over 11,400 buildings connected to its fiber network. Lightpath’s advanced fiber optic network extends more than 8,800 route miles, which includes approximately 600,000 miles of fiber, throughout the New York metropolitan area.
Dexter Goei, Chief Executive Officer of Altice USA
Bringing in a strategic investor allows Altice USA to focus on operating our core businesses while infusing the capital needed to grow Lightpath and maximize shareholder value. We are pleased to partner with MSIP, a leading investor in telecommunications infrastructure with deep operational and management expertise, to propel Lightpath and unlock its future potential.
