Pilot Fiber has struck a deal to acquire the commercial fiber network assets that Boldyn Networks operates across New York and New Jersey, a move set to push the enterprise connectivity provider's footprint past 1,600 route miles once the transaction closes. The agreement, announced Thursday, would connect Pilot to more than 1,200 buildings and 50 data centers and extend its lines deeper into Brooklyn, Queens, the Bronx and Staten Island.
Boldyn Networks agreed to sell its commercial fiber network assets in New York and New Jersey to Pilot Fiber, according to a company release distributed via PRNewswire. The same release states that once the deal closes, Pilot's owned footprint is expected to exceed 1,600 route miles and connect more than 1,200 buildings and 50 data centers. Closing is expected in the second quarter of 2027, subject to customary conditions and regulatory approvals, and the financial terms of the deal were not disclosed.
What Pilot Is Picking Up in Jersey and the Boroughs
The Boldyn assets bring more than 860 route miles of fiber across New Jersey commercial corridors into Pilot's network and expand its reach into Brooklyn, Queens, the Bronx and Staten Island, per a GlobeNewswire filing tied to the transaction. Among the more notable pieces changing hands is a dedicated East River fiber crossing that expands connectivity into Brooklyn, according to citybiz. That outlet also reports the network serves enterprise customers, data centers and smart-city infrastructure in New York City, alongside a New Jersey network supporting commercial businesses and telecommunications carriers.
Once the deal closes, Pilot plans to offer Dedicated Internet Access, Ethernet Transport, Dark Fiber, Wavelength and IP Transit across the combined infrastructure, citybiz's reporting notes. As reported by Business Wire, Pilot already serves more than 4,000 businesses across more than 1,200 buildings and has built its network since 2014, installing service in on-net buildings in 5 to 15 days compared with an industry standard of 30 to 90 days.
Fengate's $330 Million Backing the Deal
Fengate Asset Management is providing more than $330 million in new financing and making an equity investment in Pilot, the GlobeNewswire release states. Warren Roll led Fengate's investment and will join Pilot's board of directors, citybiz reports. Sources differ on the scale of Fengate's broader portfolio: the GlobeNewswire release describes a portfolio of more than 65 assets, while Business Wire's account puts the figure at more than 45 assets.
Joseph Fasone will continue to lead and operate Pilot Fiber as its founder and CEO, according to the GlobeNewswire release. Per Business Wire, Fasone said the acquisition unlocks greater scale and expands Pilot's reach across the region. Warren Roll, identified by Business Wire as Fengate's managing director and head of digital infrastructure, said in the same release that Pilot has a strong enterprise fiber operation and that Boldyn's network enables growth across New York and New Jersey.
Boldyn Shifts Focus to Wireless as Pilot Absorbs Customers
Boldyn Networks, described in Business Wire's account as a neutral host provider that designs, builds and operates advanced network infrastructure, will continue to use the combined fiber networks to support its regional wireless business after the sale. Christos Karmis, identified as Boldyn's global CEO, said the partnership offers Boldyn's fiber customers a larger network while letting the company focus on wireless infrastructure, according to the Business Wire release. The acquired business currently serves approximately 100 enterprise, carrier and institutional customers, who are expected to be integrated onto Pilot's network once the transaction closes.
The deal marks Pilot's second acquisition in 2026, following its purchase of Extenet's enterprise fiber business in August, citybiz notes. That earlier transaction, which Pilot Fiber announced was completed effective August 15, 2026, extended Pilot's owned network into New Jersey and added more than 20 data centers, including direct access to NASDAQ and NYSE, while bringing roughly 200 additional enterprise, carrier and institutional customers onto its network. Telecom industry outlet Telecom Ramblings frames the Boldyn deal as part of a broader wave of consolidation, noting that a significant chunk of modern metro fiber is changing hands in the New York and New Jersey market.
Bank Street Group LLC served as Boldyn's exclusive financial adviser on the transaction, while Goodwin Procter served as legal counsel to Pilot and Paul Hastings advised Boldyn, according to citybiz's reporting. The acquisition still awaits regulatory approval, with both companies pointing to a second-quarter 2027 close as the deal moves through standard review.
