Oak Hill Capital Partners to Acquire Sovernet Communications
Combination with FirstLight Fiber and Oxford Networks will create a stronger Northeast fiber provider
BELLOWS FALLS, VT (August 8, 2016) - Sovernet Communications (“Sovernet”), a leading fiber-optic bandwidth infrastructure services provider operating in Vermont, New York and southwest New Hampshire, announced today that it has entered into a definitive agreement to be acquired by Oak Hill Capital Partners (“Oak Hill”). At the closing of the transaction, Oak Hill intends to combine the operations of Sovernet with FirstLight Fiber (“FirstLight”), which Oak Hill previously announced an agreement to acquire. FirstLight is another leading provider of fiber optic communications in the northeast.
The transaction will combine Sovernet’s high-capacity network transport, broadband Internet, and voice services with FirstLight’s complete portfolio of data, Internet, data center and voice services, which are backed by strong, locally-based service and support. Upon completion of the transaction and Oak Hill’s other pending strategic transactions, including FirstLight and Oxford Networks, the combined companies will operate a total of approximately 9,500 route miles of high-capacity fiber optic network and eleven data centers across New England and New York.
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Sovernet’s Fiber Network Helps Connect Vermont’s “Last Mile”
Multiple Broadband Providers Leverage Sovernet’s State-of-the-Art Network to Serve Vermonters
BELLOWS FALLS, VT (June 6, 2016) - Sovernet Communications today announced that its state-of-the-art fiber network now supports broadband services for numerous rural Vermonters in the so-called “last mile,” by providing dedicated Internet access and data transport to other service providers. These providers, in turn, are extending further and further into rural Vermont to serve residential and business customers.
In 2010, Sovernet was the sub-recipient of a $33.4 million “middle mile” federal broadband stimulus grant from the National Telecommunications and Information Administration. As a combined result of the proceeds from the federal grant, Sovernet’s own investment of $12 million, and additional funding from the state of Vermont, Sovernet now delivers high-quality voice, data, and Internet services to more than 300 vital community institutions, including public libraries, schools and colleges, healthcare facilities and hospitals, municipal and state government offices, and other service providers throughout Vermont.
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