News and research before you hear about it from CNBC and more. Claim your free 1-week trial at StreetInsider Premium here.
LITTLE ROCK, Ark., Jan. 26, 2023 (GLOBE NEWSWIRE) — Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) announced today that it has signed a long-term contract with a major global Internet provider, providing long-haul dark fiber connectivity to major data centers located in 12 cities across the Central and Southeastern United States. Routes include El Paso, TX to San Antonio, TX, Indianapolis, IN to Nashville, TN, Nashville, TN to Atlanta, GA, Dallas, TX to Beaumont, TX, Houston, TX to Jacksonville, FL, Tallahassee, FL to Tampa, FL, and Miami, FL to Tampa, FL. The agreement provides convenient and secure transportation within a combined 3,100-mile route, which connects several traffic hubs and critical infrastructure sites for Uniti’s customers.
The Houston, TX to Jacksonville, FL route will require Uniti to build ten (10) new In-Line Amplifier (ILA) shelters where its customer will lease space and power to renew their optical signal. These locations will not only allow Uniti to lease additional space and power to other customers, but will also allow Uniti to reengineer its own optical signal as it deploys its Private Wave Channel (PWC) product on this line in the near future.
“Today’s announcement represents one of the largest customer contracts, by total contract value, in Uniti’s history, covering more than 10,600 fiber strand miles,” said Greg Ortyl, President of Wholesale and Strategic Accounts. “This existing customer continues to show confidence in Uniti’s ability to deliver unique, end-to-end infrastructure solutions that meet their growing bandwidth needs. In addition, the new ILA shelters position us for increased lease capacity and faster deployment times for our PWC product when we start lighting from Houston to Jacksonville, allowing Uniti to offer 100G, 400G and spectrum services to route. “
This latest agreement demonstrates Uniti’s continued commitment and success in re-hiring recurring revenue through built-in escalators on a national route network of 134,000 miles. Uniti expects to deliver these routes between 2023 and 2024.
ABOUT THE UNIT
Uniti, an internally owned real estate investment trust, is involved in acquiring and building critical telecommunications infrastructure and is a leading provider of fiber and other wireless solutions to the telecommunications industry. As of September 30, 2022, Uniti owns approximately 134,000 fiber route miles, 8.0 million fiber strand miles, and other commercial telecommunications facilities throughout the United States. More information about Uniti can be found on its website www.uniti.com.
Ron Mudry, 727-421-0388
Senior Vice President, Chief Revenue Officer
Greg Ortyl, 314-749-2478
President, Wholesale & Strategic Accounts
CALLER AND MEDIA:
Paul Bullington, 251-662-1512
Senior Vice President, Chief Financial Officer and Treasurer
Bill DiTullio, 501-850-0872
Vice President, Finance and Investor Relations