Metromedia, StorageNetworks Sign $96 Million Dark Fiber Deal
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StorageNetworks will have access to Metromedia's (MFNX) global infrastructure and will also receive high-speed, high-bandwidth dark fiber infrastructure in major metropolitan areas of the United States
StorageNetworks will use the capacity to connect its storage points of presence to its global data storage network. StorageNetworks will use the lease agreement to enhance the company's continuity and disaster recovery services, including restoration and data sharing.
The deal represents Metromedia's first agreement with a data storage company, and Metromedia calls the deal a demonstration of the need for dark fiber in the enterprise network market.
Metromedia has raked in some major deals this month through its fiber network. Since Oct. 5, Metromedia signed a $550 million dark fiber deal with Bell Atlantic sweetened by a $1.9 billion investment and signed a $300 million dark fiber agreement with WinStar.