Two bits of merger news and a partnership down in Miami:
Macquarie may have won the auction for Cincinnati Bell. After updating its deal with Brookfield yet again on Thursday to $14.50/share, this morning they finally went the other way. This morning Cincinnati Bell has announced that it has determined Macquarie’s latest bid of $15.50/share in cash to be ‘a superior company proposal’, which indicates that Brookfield has for now declined to match it. They still have until next Thursday to do so, however,
South Reach Networks has a new partner down Miami. NYI has signed on for a new PoP in the company’s colo facility at 36 NE 2nd Street as well as a dark fiber ring hooking it up to the nearby NAP of the Americas. The partnership gives NYI a southern presence to go with NYC, Chicago, and Seattle, and a gateway into the markets of Latin America. South Reach Networks launched last fall by rebranding IMDC and bringing in Mike Sevret as CEO.
Tofane Global has finally completed its purchase of iBasis. It has been almost two years since the company first announced the purchase of the wholesale voice arm of KPN, but they did get it done in the end. They have now relaunched iBasis as the company’s unified commercial brand, folding in the pieces they bought from Altice a year and a half ago. In all, the company now boasts $1B in annual revenues with 300 employees on four continents.
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