PRESS RELEASE


 

Media Contact
Will Davis
Senior Vice President of Marketing and Investor Relations
Chief of Staff
(917) 519-6994
davisw@lumosnet.com

 

For immediate release

Wednesday, November 9, 2016
Lumos Networks Announces Agreement to Acquire Clarity Communications Group

WAYNESBORO, Va.--(BUSINESS WIRE)-- Lumos Networks Corp. (“Lumos Networks”) (NASDAQ:LMOS), a leading fiber-based service provider in the mid-Atlantic region today announced it signed a purchase agreement to acquire Clarity Communications Group (“Clarity”), which operates a 730 mile fiber network with 75 on-net locations located across four states in the south-eastern United States. The vast majority of Clarity’s operations and fiber mileage is in the state of North Carolina.

Timothy G. Biltz, CEO of Lumos Networks said, “I am excited to announce our acquisition of Clarity Communications, which we expect to close in the first quarter of 2017. We believe this transaction will be accretive on an Adjusted EBITDA basis on day one and demonstrates a disciplined approach to efficiently expand our fiber footprint into both new markets and verticals.”

Mr. Biltz continued, “Clarity, led by founders Todd Peverall and Andy Carwile, gives us an instant foothold within the Carrier and Enterprise verticals in many high growth North Carolina markets and gives us a new sales channel into various government end markets, including military installations and e-rate. Clarity will be a contributing factor in Lumos achieving the necessary scale needed to become a pure play fiber bandwidth infrastructure company.”

“We are enthusiastic about becoming part of the Lumos team as they continue their transformation towards a pure-play fiber company,” said Todd Peverall, President of Clarity Communications. “Our team is motivated to continue to grow our North Carolina fiber business and we see numerous opportunities to utilize our expertise within the government space across the entire 9,200 fiber mile Mid-Atlantic footprint.”

About Lumos Networks

Lumos Networks is a leading fiber-based service provider in the Mid-Atlantic region serving Carrier, Enterprise and Data Center customers, offering end-to-end connectivity in 26 markets in Virginia, West Virginia, North Carolina, Pennsylvania, Maryland, Ohio and Kentucky. With a fiber network of 11,028 fiber route miles and 517,244 total fiber strand miles, Lumos Networks connects 1,310 unique Fiber to the Cell sites, 1,684 total FTTC connections, 2,230 on-net buildings and approximately 3,500 total on-net locations. The Company also connects 44 total data centers, including three data centers acquired from DC74 (now named Lumos Data Centers), two acquired from Clarity Communications and seven company owned co-location facilities. In 2016, Lumos Networks generated over $123 million in Data revenue over our fiber network. Detailed information about Lumos Networks is available at www.lumosnetworks.com.

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