Happy Chinese New Year to those who celebrate it. Two bits of M&A, some dark fiber, and low latency featured in the news lately:
On Friday, MegaPath made an inorganic move in the Rockies by announcing the acquisition of IP5280. The deal adds over 1,000 customers to their rolls across the country, additional hosted voice expertise, and of course two offices and and a bundle employees in Colorado and New Mexico. IP5280's co-founders, John Scarborough and Jeffry Perl will join the MegaPath team. MegaPath is itself the fusion of the former MegaPath, Covad, and Speakeasy entities, and there will probably be further consolidation in this corner of the industry.
Boston-based private equity firm Riverside Partners has made another investment in telecom and internet infrastructure. Yesterday they completed the purchase a majority equity position in ITC Global, announced late last year. ITC Global specializes in satellite connectivity to maritime and hard-to-reach locations around the world. Riverside also recently put money into New England, powering Tech Valley's purchase of segTEL.
Out in the Rockies, Zayo is putting more of that longhaul fiber it recently acquired from 360Networks to work. Yesterday they unveiled a deal with EAGLE-Net Alliance for dark fiber, including 511 miles connecting Cheyenne, Wyoming with Branson, Colorado. EAGLE-Net was awarded a $100.6M BTOP grant to hook up some 234 anchor institutions, a piece of which now winds up with Zayo. EAGLE-Net intends to reach 72% of those institutions by August of this year, with the rest the following August.
And Savvis (news, filings) [a subsidiary of CenturyLink (NYSE:CTL, news, filings)] has added ultra-low latency connectivity to Eris Exchange via its NJ3 and CH4 facilities in New Jersey and Chicago. Eris is a futures exchange, with more than $34B in notional value traded since its launch. Savvis has long had a substantial presence in the financial vertical, which CenturyLink is looking to help power its move on the enterprise sector.