Uniti Announces Long-Haul Dark Fiber Agreement with Global Internet Provider

Rhea-AI Summary

Uniti Group Inc. has signed a long-term contract with a global internet provider, offering dark fiber connectivity across two key U.S. routes. The contract is valued at approximately $35 million and will strengthen Uniti's network infrastructure.

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• Uniti Group Inc. has signed a long-term contract with a global internet provider, strengthening its network infrastructure

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LITTLE ROCK, Ark., July 25, 2023 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) announced today that it has signed a long-term contract with a prominent global internet provider, offering long-haul dark fiber connectivity across two key U.S. routes that connects 12 cities across the Midwest and the Southeast, and encompasses over 7,000 fiber strand miles.

The Midwest path spans from Indianapolis, IN to Chicago, IL, then east to Ashburn, VA, with drops in Toledo, OH, Cleveland, OH, and Pittsburgh, PA, forming a crucial backbone connecting major metropolitan areas in the region. This route also features a critical segment from Toledo, OH to Detroit, MI. The Southeast route establishes a seamless network corridor from New Orleans, LA to Mobile, AL, then up to Montgomery, AL. Each of these fiber routes bolsters the network infrastructure, improves diversity and enables advanced network capabilities for our customer.

In addition, Uniti will add a new presence in a data center located in Detroit, MI, and establish a new Point of Presence (POP) in Cleveland, OH, creating enhanced connectivity solutions for its customers. Uniti will also build five new In-Line Amplifier (ILA) shelters, allowing customers to lease space and power to regenerate their optical signal, ensuring the highest levels of network performance.

"This latest dark fiber deal marks a significant milestone in our partnership with this valued customer and reinforces our shared commitment to delivering top-tier connectivity services," said President of Wholesale and Strategic Accounts, Greg Ortyl. "Uniti continues to solve our wholesale customers’ toughest network challenges with customized solutions leveraging our broad product portfolio, including Ethernet, Wavelengths, Internet and Dark Fiber.”

With a total contract value of approximately $35 million, this agreement underscores Uniti’s commitment to delivering high-quality, scalable and secure networking solutions, while driving long-term recurring revenue over its national fiber network of 137,000 route miles.

ABOUT UNITI

Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure and is a leading provider of fiber and other wireless solutions for the communications industry. As of March 31, 2023 Uniti owns approximately 137,000 fiber route miles, 8.3 million fiber strand miles, and other communications real estate throughout the United States. Additional information about Uniti can be found on its website at www.uniti.com.

SALES CONTACTS:

Ron Mudry, 727-421-0388
Senior Vice President, Chief Revenue Officer
ron.mudry@uniti.com

Greg Ortyl, 314-749-2478
President, Wholesale & Strategic Accounts
greg.ortyl@uniti.com

INVESTOR and MEDIA CONTACTS:

Paul Bullington, 251-662-1512
Senior Vice President, Chief Financial Officer & Treasurer
paul.bullington@uniti.com

Bill DiTullio, 501-850-0872
Vice President, Investor Relations & Treasury
bill.ditullio@uniti.com

FAQ

What is the value of the contract?

The contract is valued at approximately $35 million.

What does the contract involve?

The contract involves providing dark fiber connectivity across two key U.S. routes.

What is Uniti's national fiber network mileage?

Uniti's national fiber network has a mileage of 137,000 route miles.