CHARLOTTE, NC -Private equity firm Alinda Capital Partners is buying 50 percent of DukeNet Communications for $137 million, creating a joint venture intended to grow the company. Duke Energy retains ownership of the other half of DukeNet.
Duke Energy (NYSE:DUK) founded DukeNet, which operates a fiber optic network of more than 5,300 miles in four states, in 1994. It provides bandwidth transport and data center connectivity among other services.
Current DukeNet President, Brad Davis, retains that position.
The deal is expected to close in the third quarter.
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Tags: Acquisitions, Alinda Capital Partners, Duke Energy, DukeNet, fiber optic networks
