As promised, Oak Hill Capital Partners polished off its acquisition of Sovernet and immediately combined its operations with that of FirstLight Fiber, just as it recently did with Oxford Networks.
Sovernet operated a statewide network in Vermont spanning some 1,300 route miles along with a data center in Burlington. And they also owned the ION network, stretching 3,300 route miles across upstate New York and reaching down into northern Pennsylvania in a few spots. The Vermont assets add significant regional depth to FirstLight's existing footprint in that state, while the ION network takes them into a wide range of new markets in addition to their home turf in the Albany metro area.
FirstLight's footprint now stretches from Buffalo to Bangor, and from Montreal to New York City. Their latest deal for Finger Lakes Technologies Group will add even more depth in central Upstate New York, and bring their regional footprint to 12,000 route miles of fiber connecting 7,000 on-net locations. There's not much more to buy up in that region, so one wonders what could be next on the menu in adjacent areas like Pennsylvania and southern New England.Fiber Networks · Mergers and Acquisitions