Eureka's assets include customer contracts, in-building networks and associated building access rights. The acquisition will double the operations of the Atlanta-based firm by adding 750 small to medium-sized businesses to its customer base and 140 class A buildings to its portfolio of 1,000 office properties in 25 major metro markets.

"Acquiring and integrating building-centric telecommunications assets that immediately contribute to our operational and financial success is a key component of our overall business strategy," says Cypress Communications CEO Charles B. McNamee. He says the Eureka acquisition, combined with last summer's purchase of WorldCom's share tenant telecommunications services business, "positions Cypress Communications to achieve our goal of becoming the leading provider of building-centric, bundled telecommunications services to small and medium-sized businesses throughout the U.S."

Eureka operates a riser and communications infrastructure in 750 commercial office buildings in Los Angeles, New York and Washington, DC. The parent of Cypress Communications is Atlanta-based U.S. RealTel Inc.