Time Warner Cable Inc. (NYSE: TWC) is buying DukeNet Communications LLC for $600 million.
Charlotte, N.C.-based DukeNet is a regional fiber optic network that serves customers in the southeast. The company provides bandwidth to wireless carrier, data center, government and business customers.
The deal should expand Time Warner’s fiber optic footprint.
The company was sold by Duke Energy Corp. (NYSE: DUK) and funds managed by private equity firm Alinda Capital Partners. Alinda invests in infrastructure and has about $7.8 billion in capital under management.
RBC Capital Markets LLC advised Duke Energy and Alinda on the sale, while Moore & Van Allen PLLC provided legal advice. Edwards Wildman Palmer LLP was Time Warner’s legal counsel.
The deal follows a similar acquisition by WaveDivison Holdings, which picked up Spectrum Networks to expand broadband offerings in September.