KIRKLAND, Wash. & MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Wave (www.wavebroadband.com), a gigabit fiber and broadband services company, today announced that it has acquired Layer42 Networks (www.layer42.com), a provider of business-to-business Internet connectivity, colocation, and data transport services. Layer42 brings Wave a strong base of metro Ethernet services for businesses throughout Silicon Valley and the San Francisco Bay Area and is the only colocation provider in the booming Mountain View, CA corridor. The transaction is effective immediately.
Founded in 1999, Layer42 has established a profitable business by delivering three primary services to enterprise-level clients and other business customers throughout the San Francisco Bay area: Internet access; Ethernet transport; and wave transport, with speed offerings ranging from 10 megabytes to 100 gigabits. The company’s colocation facilities are based in two network operation centers, in Santa Clara and Mountain View, CA, with a total of about 70,000 square feet.
Wave plans to invest in additional hiring and technology to accelerate growth. Layer42 will now be known as "Layer42 by Wave." Layer42 has approximately 150 customers, including Barracuda Networks, Dropbox and Square.
“Layer42 strengthens Wave’s physical presence in Silicon Valley and fits perfectly with our accelerated network expansion, while offering business customers best-in-class Internet connectivity and data transport services,” said Steve Weed, Wave CEO. “We look forward to investing further in the network infrastructure, people, and technology to further the growth of our business services in the Bay Area and ultimately throughout Wave’s network.”
Wave now connects more than 50 data centers on its rapidly expanding fiber network in California, Oregon and Washington. The addition of Layer42 expands the type and depth of services Wave can offer throughout its areas of operation.
Wave recently raised $130 million to accelerate the expansion of its network and related services in California, Oregon, and Washington. Wave and Layer42 leaders believe that this transaction fits perfectly with that strategy in deepening Wave’s service offerings in Silicon Valley and provides a strong partner for Layer42 to speed its own growth.
“We are excited to join forces with Wave, as that company has a unique track record of successfully integrating new companies and technologies to deliver great products and services to business customers throughout the West Coast,” said Derek Garnier, Layer42 Networks CEO. “When it comes to network and collocation services, we believe that partnering with Wave gives us the best opportunity to effectively address growing needs in the San Francisco Bay Area marketplace and beyond.”
Garnier is remaining with Wave as SVP of Data Center Services.
“We are thrilled that Layer42 is teaming up with Wave,” said Christopher Baldwin, director of IT/Telecom at Barracuda Networks. “The combination of Layer42’s colocation services and Wave’s extensive fiber network along the West coast is going to be a significant benefit to our customers in terms of reliable speed and flexibility."
Wave is a provider of video, internet and phone services on the West Coast, currently serving more than 430,000 internet, Cable and phone subscribers in Washington, Oregon and California. Formed in 2002, the company has established a reputation for high quality service, growing both organically and by expanding its footprint to new communities through acquisitions and building new fiber. Layer42 is the company’s 18th acquisition to-date. DH Capital served as financial advisor to Layer42 surrounding this transaction.
Transition plans will not impact current Layer42 customers: the company’s services will continue without interruption as operations are merged with Wave during the coming months. Both Wave and Layer42 have expressed their commitment to ensuring the smoothest transition possible. Current Layer42 customers can call 855-848-4242 with any questions regarding their service.
About Layer42 Networks
Layer42 Networks was founded in 1999, with the goal of delivering technology driven business-to-business Internet solutions. Layer42 Networks operates two state-of-the art datacenters and specializes in Metro Ethernet, Waves, IP Transit, Datacenter and Point-to-point connectivity. Layer42 Networks operated a ring of multiple 10 Gigabit connections between each facility. This high capacity network, along with MPLS technology allows for a fully fault-tolerant network with the lowest latency and jitter as well as highest uptime available.
About Wave
Wave is a gigabit fiber and broadband services company, providing true high-speed internet service and a variety of related products and options for business and residential customers in key areas of Washington, Oregon and California. The company is headquartered in Kirkland, Washington. For more information, visit www.wavebroadband.com.
