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Qwest Buys OnFiber For $107M

Denver-based Qwest Communications has purchased OnFiber Communications, an Austin, Texas-based provider of metropolitan Ethernet and wide area networks. Qwest said it would pay $107M in cash and stock for the firm. The transaction is expected to close in the third quarter. OnFiber develops all-fiber, high-bandwidth networks for large businesses and government clients. The firm is expected to have revenues of $60M in 2006.