Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek

Trending

Filed under: News | Technology News

 

Time Warner Cable will Acquire DukeNet for $600 Million

Time Warner Cable has agreed upon the acquisition of DukeNet for $600 million. DukeNet is a fiber optic network provider. It will help beef up Time Warner Cable’s business acumen.

1 Updates
Time Warner Cable will Acquire DukeNet for $600 Million
 
 

YouTube Videos Comments

Full Story

Time Warner Cable will Acquire DukeNet for $600 Million

Time Warner Cable is the #2 cable company in the United States. It has assented to acquire DukeNet, a fiber optic giant. The sum of money it will pay in return is a whopping $600 million. The acquisition will be taking place from Duke Energy Corporation and Alinda Capital Partners. The deal will be sealed by next year. DukeNet provides services for wireless companies, information hubs, government clientele and corporate interests. 

Time Warner Cable meanwhile wants to employ the services of DukeNet in order to expand its business in several southern states. These include North and South Carolina. This is the latest acquisition by Time Warner Cable after its merger with NaviSite Incorporated for $230 million. 

Phil Meeks, Executive Vice President and COO of Business Services for Time Warner Cable, said, “Business Services is a key growth area for Time Warner Cable and this acquisition will greatly enhance our already growing fiber network to better serve customers, particularly those in key markets in the Carolinas. This acquisition will help us expand our fiber footprint at a price that is consistent with our disciplined approach to M&A, accounting for expected synergies and tax benefits.”

Fiber optics has taken the world by storm ever since the Internet Revolution began in the late 90s. The fact that via light signals messages can be relayed at such superior speed standards is a modern day miracle in itself. The world is literally becoming a global village thanks to the connections in communication that have grown so profusely in recent decades. 

And Time Warner Cable is at the start of a journey that will take it into new worlds of digital daring. With DukeNet being a feather in its cap, the company is ready to roll with the times. And that is because time itself is on its side. 

Marc Manly, president of Duke Energy’s Commercial Business group, said, "This is a positive transaction for Duke Energy,” “The sale completes Duke Energy’s transition out of DukeNet, which although a growing operation, is a non-core business to our company.”

 

iPad Air Giveaway. Win a free iPad Air.

You Might Also Like

Updates


Sponsored Update


Advertisement


More From the Web

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.

 

 

Comments

blog comments powered by Disqus

Latest stories

The Crew Preorder 20% Off In Time For Monday&#039;s Beta
The Crew Preorder 20% Off In Time For Monday's Beta
You'll have to preorder The Crew on PC to get access to Monday's new Beta, fortunately there's a 20% off discount if you know where to look.
 
 
&#039;NFL Now&#039; Launches on Apple TV With Breaking Football News and Highlights
'NFL Now' Launches on Apple TV With Breaking Football News and Highlights
The video content can be viewed on the iPhone, iPad, Mac (via a web browser) and other connected devices such as Roku, Amazon Fire TV, and as of today, the Apple TV channel that was leaked earlier in the month.
 
 
Intel and Unity announce collaboration to bring Android support to x86 devices
Intel and Unity announce collaboration to bring Android support to x86 devices
Unity will add Android support for Intel’s current and future x86 chips, including the Core and Atom families.
 
 
iPad Air 2 will double-down on RAM
iPad Air 2 will double-down on RAM
The upgrade might be incoming due to the multi-window feature for iPad we’ve been hearing about.
 
 
 

About the Geek Mind

The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.

The “geek mind” is concerned with life, in all its different forms and facets. The geek mind wants to know about societal and financial issues, both abroad and at home. If a Fortune 500 decides to raise their minimum wage, or any high priority news, the geek mind wants to know. The geek mind wants to know the top teams in the National Football League, or who’s likely to win the NBA Finals this coming year. The geek mind wants to know who the hottest new models are, or whether the newest blockbuster movie is worth seeing. The geek mind wants to know. The geek mind wants—needs—knowledge.

Read more about The Geek Mind.