NEW YORK--(BUSINESS WIRE)--Altice USA (NYSE: ATUS) today announces it has closed the previously announced sale of 49.99% of its Lightpath fiber enterprise business to Morgan Stanley Infrastructure Partners (MSIP) for an implied enterprise value of $3.2 billion. Altice USA will retain a 50.01% interest in Lightpath and maintain control of the company.
“We are pleased to have closed this transaction and partner with Morgan Stanley Infrastructure Partners to support ongoing and new growth initiatives, improve operational performance and provide strategic and financial flexibility for Lightpath,” said Dexter Goei, Chief Executive Officer, Altice USA. “This partnership enables us to focus on distinct opportunities for value creation and long-term growth for Lightpath while continuing to provide best-in-class products and services to enterprise customers.”
Lightpath is a fiber-based bandwidth technology platform enabling businesses in the greater New York Metropolitan region to innovate on emerging systems-based applications. Delivering advanced broadband, voice, security, and managed services with 100% fiber optic network connectivity, Lightpath powers businesses to meet their customers’ evolving needs. As of September 30, 2020, Lightpath’s extensive and deep fiber network powered 11,700 connected buildings across more than 18,600 route miles, including owned and Altice USA route miles.
About Altice USA
Altice USA (NYSE: ATUS) is one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to more than 5 million residential and business customers across 21 states through its Optimum and Suddenlink brands. The company operates a4, an advanced advertising and data business, which provides audience-based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. Altice USA also offers hyper-local, national, international and business news through its News 12, Cheddar and i24NEWS networks.
About Morgan Stanley Infrastructure Partners
Morgan Stanley Infrastructure Partners (“MSIP”) is a leading global infrastructure investment platform, targeting assets that provide essential services with the potential for value creation through active asset management. Founded in 2006, MSIP has made 30 investments across three global funds with more than $13 billion of capital commitments. MSIP’s investors include some of the largest pension, sovereign wealth and insurance companies across the globe.
