Albany, New York-based broadband infrastructure provider FirstLight Fiber will acquire New York-based Finger Lakes Technology Group as part of a broader acquisition plan. The deal solidifies FirstLight’s position as a fiber provider in the Northeast and also furthers consolidation of smaller providers in the region.
FirstLight announced similar transactions with Oxford Networks and Sovernet Communications last year.
The Finger Lakes Technology Group transaction will merge FLTG’s privately owned fiber optic network, which spans nearly 2,500 route miles in New York state and Pennsylvania, with FirstLight’s more than 9,500 route mile fiber network. FirstLight will offer increased fiber density in the Upstate New York area, and expand its services in the Northern Pennsylvania region.
FirstLight is backed by New York-based private equity firm Oak Hill Capital Partners. Oak Hill is supporting FirstLight’s recent buying spree, which has built out the FirstLight network and portfolio of services. Other investment firms including Novacap, Bank Street Capital Partners and Riverside Partners are also minority owners in FirstLight, having retained partial ownership stakes following the Oxford and Sovernet acquisitions.
As a regional broadband infrastructure company, FirstLight provides Ethernet, wavelength and dark fiber services as well as dedicated Internet access solutions, data center, cloud and voice services. The company provides services to local businesses and government offices within the Northeast.
The Finger Lakes transaction is expected to close in the third quarter of this year.