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March 12, 1987

FIBERNET PICKS UP THREE SMALL PHONE FIRMS TO BUILD COAST-TO-COAST FIBRE NET

By CBR Staff Writer

Consolidation in the US long-distance fibre-optic network business continues, and this week, FiberNet Communications Corp of Metuchen, New Jersey announced that it had bought three long distance companies that previously operated independent East and West coast long distance networks. The acquisitions bring together the more than 10,000 small and medium size business customers of the four companies, enabling prices and products comparable with those previously available only to Fortune 100 companies with their own private telecommunications networks. FiberNet has acquired 100% of TK Communications, which provides services in New Jersey, Connecticut, Maryland, Pennsylvania and the District of Columbia under the trade name TollKall; FiberNet. It has also acquired 80% of the stock of ACSI, a California-based company which with its wholly owned subsidiary, Amptelco, provide services throughout California under the trade name Telephone Express Network and has switching centres in San Francisco, Sacramento and Irvine, California. The rest of the holders of ACSI stock are expected to have accepted Fibernet’s offer by tonight. FiberNet has also won acceptances in respect of over 80% of the shares of All-State Communications, of Burlingame, California. All-State provides long distance services throughout the San Francisco Bay Area, and acceptances there are also expected to reach 100% by tonight. No financial details of the acquisitions were disclosed, but FiberNet is a publicly quoted company traded Over-The-Counter.

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