Allegheny/AFN

AFN Communications, LLC was a privately held, facilities-based network service provider that supplies carrier-class broadband services to underserved Tier 2 and Tier 3 markets as well as primary markets. AFN was owned by Allegheny Energy and several other large public utilities. The company delivered highly scalable and flexible broadband transport services to local access services. AFN's customer base included: inter-exchange and local exchange carriers; utilities; Internet, application, cable, DSL, wireless and niche service providers. AFN was established by four utility companies who subsequently decided to exit the communications business.
 
Cypress advised Allegheny on sale of AFN and restructuring of residual liabilities following the sale.