Charlotte-based US LEC (www.uslec.com), a regional telecommunications provider, is set to acquire Pennsylvania-based FASTNET, a data services provider in the mid-Atlantic. FASTNET's service area extends from Northern Virginia to New York. The company provides Internet security and data backup, managed hosting, dial-up Internet access and co-location services.
Under the terms of the acquisition, US LEC will gain nearly 2,100 business customers with dedicated Internet or data center services, as well as an additional 26,000 shared Web hosting and dial-up Internet customers. As a result, US LEC officials expect FASTNET to contribute an estimated $24 million in annual revenue.