Berkshire Partners LLC disclosed plans Thursday to acquire control of two of the largest U.S. fiber-network providers, leading to a combination that the private-equity firm valued at more than $2 billion.

Lightower Fiber Networks and Sidera Networks would be merged in a transaction led by Berkshire, creating one of the largest providers of the infrastructure used by high-speed traders to access financial exchanges, as well as companies and government users of ultrafast data transfer.

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