This acquisition combines Sovernet’s high-capacity network transport, broadband Internet, data center and voice services in Vermont and New York with FirstLight’s complete portfolio of data, Internet, data center, cloud and voice services, backed by highly responsive, locally-based customer support. The acquisition adds approximately 3,300 fiber route miles across New York, 1,300 fiber route miles throughout Vermont, and Sovernet’s Tier III data center in Burlington, Vermont. Along with the previously closed acquisition of Oxford Networks (“Oxford”) and the recently announced acquisition of Finger Lakes Technologies Group (“Finger Lakes”), FirstLight will soon operate a regional network consisting of approximately 12,000 route miles of high-capacity fiber in six states and Canada, with more than 7,000 on-net locations and 12 data centers totaling more than 225,000 square feet of space strategically located throughout its footprint.
“The successful acquisition of Sovernet, which includes its New York ION network, substantially increases our fiber density and reach allowing us to better serve our existing customers while expanding into new markets as well,” said Kurt Van Wagenen, President and CEO of FirstLight. “We expect this to be a seamless integration in which our customers will quickly reap the benefits of our enhanced operating platform and capabilities.”
“With highly complementary networks and services, this combination brings added scale, employee expertise, and synergies that will benefit all our customers and provide exciting opportunities for our talented employees,” noted Richard Kendall, Sovernet’s Chief Executive Officer.
Scott Baker and Benjy Diesbach, Partners at Oak Hill and members of the FirstLight Board of Directors, added, “The acquisition of Sovernet, combined with the recent Oxford and Finger Lakes transactions, is strategically significant and demonstrates FirstLight and Oak Hill’s shared vision of creating the most extensive fiber-based communications services provider operating in the Northeast.”
Q Advisors LLC served as financial advisor to ATN International, Inc., the parent company of Sovernet, and Mintz Levin Cohn Ferris Glovsky and Popeo, PC acted as legal counsel. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to FirstLight and Oak Hill.