Hawaiian Telcom to buy inter-island fiber assets from Paniolo Cable
Hawaiian Telcom says it has reached a definitive agreement to buy inter-island submarine cable and middle-mile terrestrial fiber assets in and around Hawai’i from bankrupt Paniolo Cable Co. The company will pay $50 million, half in cash and the rest via committed purchase money financing. The transaction is subject to the usual closing conditions, including approval of the bankruptcy court and federal regulatory authorities, but is expected to close in the third quarter of 2021.
The assets, which Hawaiian Telcom described as “underutilized,” will complement Hawaiian Telcom’s existing fiber backbone network and add more than 400 miles to the company’s submarine and terrestrial fiber footprint and add route diversification.
“As a leading local broadband provider, we are committed to continuing to invest in Hawai‘i and deliver fast, reliable broadband service to residents and businesses across the islands,” said Su Shin, president and general manager of Hawaiian Telcom. “The COVID-19 pandemic has highlighted the critical importance of connectivity. This acquisition will advance our goal of strengthening and expanding broadband access in support of economic development, education, and quality-of-life initiatives throughout our state.”
Hawaiian Telcom will maintain the Paniolo network ahead of the deal’s close to enable Sandwich Isles Communications (SIC), which is not part of the acquisition, to continue to serve its customer base, which includes customers on the Hawaiian Home Lands.
The company itself was the subject of a 2018 acquisition by Cincinnati Bell (see "Cincinnati Bell closes Hawaiian Telcom buy").
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Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.
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