Category: Business
Fengate Asset Management has committed more than $330 million in new financing to support New York-headquartered Pilot Fiber’s acquisition of Boldyn Networks’ commercial fiber assets in New York and New Jersey, setting up a major expansion of Pilot’s metro network.
The deal, announced October 22, 2026, combines an investment in Pilot with funding for the acquisition and the company’s continued growth. Financial terms of the transaction were not disclosed. The $330 million-plus commitment is financing, not a disclosed purchase price for Boldyn’s network.
The acquisition is expected to close in the second quarter of 2027, subject to regulatory approvals. If completed, it will add more than 860 route miles to Pilot’s network and expand its reach across the New York metropolitan area and New Jersey.
A larger footprint across the metro area
After closing, Pilot expects to own more than 1,600 route miles of fiber connecting more than 1,200 buildings and 50 data centers across the New York metro area and northern and central New Jersey. The expanded network would increase the number of commercial properties and facilities within Pilot’s fiber footprint.
The assets being acquired extend through the five boroughs toward the Nassau County border and across northern and central New Jersey. Pilot CEO Joe Fasone said Boldyn’s network brings established carrier and enterprise relationships, adding that the acquisition “unlocks a new level of scale.”
For businesses and carriers, the network’s reach matters because fiber access depends on whether buildings and other facilities are connected to the system. A larger footprint can put more locations within reach of dedicated connections, transport services and other fiber-based products, although the transaction announcement did not specify changes to pricing or service terms.
Strategic partnership adds a wireless dimension
Pilot and Boldyn are also forming a long-term strategic partnership. Boldyn will be able to draw on Pilot’s metro network as a backbone for wireless infrastructure projects, including connectivity at public transit hubs, government facilities, large venues and outdoor small cells, as well as NYC subway connectivity.
Boldyn Global CEO Christos Karmis said the relationship will give Boldyn’s fiber customers access to a larger network while allowing the company to sharpen its focus on wireless infrastructure. He also described New York as one of Boldyn’s most important markets.
The partnership links two complementary parts of the infrastructure market: a broader commercial metro fiber network and Boldyn’s wireless buildout. Its practical scope will depend on how the companies use the arrangement after closing. Boldyn has said it remains committed to free public Wi-Fi and subway connectivity.
Pilot’s customer base and expansion
Founded in 2014, Pilot serves more than 4,000 businesses across more than 1,200 buildings. Its services include dedicated internet access, Ethernet transport, dark fiber, wavelength services and IP transit.
Pilot advertises installation in five to 15 days for on-net buildings, compared with an industry standard of 30 to 90 days. The company also advertises service without required contracts. Those stated offerings describe Pilot’s current positioning; the transaction announcement did not outline any planned changes after the acquisition.
The Boldyn purchase follows Pilot’s completion of its acquisition of ExteNet Systems’ enterprise fiber business in August 2026. Together, the deals signal an effort to build greater scale through the addition of existing networks and customer relationships. The companies have not provided a post-transaction integration schedule or detailed operating plan.
What the deal could mean for businesses
A wider fiber network can give more commercial buildings and data centers access to high-capacity connectivity options. It can also create additional routes between locations for carriers and enterprise customers. The scale announced by Pilot, however, does not by itself confirm that every building in the footprint will have the same services, installation timing or commercial terms.
For New York businesses assessing connectivity, a key distinction is whether a location is already on-net or would require new construction or an extension. Pilot’s stated installation window applies to on-net buildings; the companies have not announced how the added Boldyn assets may affect availability at individual addresses.
Data centers are another significant part of the combined footprint, with more than 50 expected to be connected after closing. The announcement did not identify those facilities or specify how many new customer connections the acquisition could support.
Boldyn’s continued access to Pilot’s network may also support its wireless projects without requiring the two companies to combine their operations. The partnership is described as long-term, but its commercial terms were not disclosed.
Closing and integration remain the next milestones
The transaction remains subject to regulatory approvals, with closing expected in the second quarter of 2027. Bank Street Group advised Boldyn, and Paul Hastings served as legal advisor. Neither the acquisition’s financial terms nor a separate purchase price has been made public.
Until the deal closes, the announced route-mile and connectivity totals describe the expected combined footprint rather than an already integrated network. The next milestones are regulatory clearance, completion of the acquisition and the companies’ integration of the added assets and customer relationships.