Cox Communications has entered into a definitive agreement to acquire Segra, one of the largest privately-held fibre infrastructure providers in the US.
Cox will acquire Segra's commercial services segment, which is a leading super-regional, fibre-based provider serving commercial enterprise and carrier customers in nine states in the Mid-Atlantic and South East."Cox is focused on buying and investing where it makes sense, and we believe that the demand for broadband infrastructure will continue to grow, making fibre an attractive area for long-term investment. Acquiring Segra's commercial services business is another key milestone in our pursuit of strategic infrastructure to ensure that we're providing the best products and services to our customers."
Segra's existing management team will continue to lead the Segra enterprise and carrier organisation following the acquisition, will retain the Segra brand and operate as a standalone business within the Cox family of companies," said Cox Communications president and CEO Pat Esser.
As part of the transaction, EQT Infrastructure will retain ownership of Segra's fibte-to-the-premise (FTTP) residential and small- to medium-sized business segment in Virginia and North Carolina and accelerate the plan to expand broadband services to neighbourhoods and markets throughout their regions.
"Our relationship with Cox will allow Segra to leverage expert resources, capabilities and strategic insights in order to scale up operations and accelerate long-term growth," noted Segra CEO Timothy Biltz. "Cox and Segra are equally devoted to the communities we serve. We will be even more strongly positioned to meet growing demand from carrier and enterprise customers for high-bandwidth fiber-infrastructure solutions. I would also like to thank EQT for its continued guidance and invaluable support as we worked to grow the business over the last nearly four years."