Elantic Closes Acquisition of Dominion Telecom

Elantic Networks closed its acquisition of Dominion Telecom. The new company, Elantic Telecom, provides wholesale fiber bandwidth and carrier services to long-distance, international, wireless carriers, CLECs, cable companies and large enterprises across its fiber network, which spans 16,000-miles east of the Mississippi.



The sale, announced previously in March, was awaiting regulatory approval by the FCC and regulators in 11 states.



Elantic Networks, was formed to own and operate telecommunications networks. Investors in Elantic include MC Venture Partners, Bank of America Capital Investors and BB&T Capital Partners. The company has entered into an agreement with Cavalier Telephone, to operate and manage the network on Elantic's behalf. Cavalier Telephone currently has over 850 employees and operates one of the largest telecommunications networks in the mid-Atlantic area serving over 150,000 business and residential customers. http://www.elantictelecom.com