Timothy G. Biltz was appointed President and CEO of Lumos Networks Corp. (NASDAQ:LMOS) in April 2012. His recent sale of the company for $18/share, scheduled to close in the 3rd quarter of 2017, validated his strategy of developing dense fiber network connectivity as the key component to satisfy mobile telephony video driven demand for future 5G Networks.
Mr. Biltz declares: “We can’t really predict the exact timing of when 5G is going to have the impact, but what we do know is that the best way to prepare for 5G is to have dense fiber networks in place. And that’s exactly what we have been doing for the last several years in our markets. In fact, since the company was spun off as a public company in late 2011, we have nearly doubled our fiber footprint to nearly 11,000 miles, serving 26 different enterprise customers.”
The CEO sees big developments for the Norfolk/Hampton Roads Virginia area:
“…as a result of our new 270-mile network in the Hampton Roads market, our fiber is now within one-half mile from the new Virginia Beach undersea cable landing station.
Over the next few years, we expect multiple undersea cables from Europe, South America and Africa to reach the landing station. Two of these include MAREA, which is funded by Telefonica, Microsoft (MSFT) and Facebook (FB), and BRUSA, funded by Telefonica. Both are expected to become operational over the next few quarters, with MAREA likely to come before BRUSA. These cables create opportunities for us to sell bandwidth capacity on our network to international and domestic carriers and social media companies who want connectivity between the Virginia Beach landing site and Ashburn, Virginia, the data center capital of the world…”
To get more strategic insight from the CEO of Lumos Networks, read the entire interview at the Wall Street Transcript.