Fort Lee, N.J.-based Everest Broadband Networks has acquired Metrocomm International Inc., a New York-based telecommunications carrier. Financial terms of the deal, Everest's first acquisition, were not disclosed.
Everest will offer Metrocomm customers integrated broadband transport services, managed network services and business applications such as IP Fax and network security. Everest also is adding new tenants in Metro-comm facilities and increasing the customer ratios and total revenue of each building.
Soon after the Metrocomm acquisition, Everest announced the formation of Everest Broadband Networks Canada. The Toronto-based subsidiary will provide high-speed Internet, digital communications and e-mail services to multi-tenant commercial and residential buildings across Canada. The newly formed company already has forged relationships with many of Canada's top real estate developers and property managers, including O&Y Properties, also headquartered in Toronto.
In another recent agreement, New York-based Witkoff Group selected Everest to provide broadband services for 16 of its office buildings. The Witkoff buildings total 8 million sq. ft.