C Spire has acquired TekLinks, combining the largest privately held U.S. wireless carrier with a Top 100 Vertical Market MSP that boasts extensive cloud services know-how. An official announcement is expected Tuesday (June 26) around 1 p.m. ET. A spokesperson confirmed the deal to ChannelE2E. We don’t know if financial terms will be disclosed.
C Spire launched in the early 1950s as a local exchange carrier. The Ridgeland, Mississippi-based company has grown to offer wireless; home Internet and TV; business and cloud services. The company’s business services include enterprise-grade technology solutions for IP voice, dedicated Internet access, wireless 4G LTE and a suite of cloud-based services, C Spire says.
Now, TekLinks and Pamlico are on the sell-side of the table. New parent C Spire has been doubling down on business services in recent months. For instance, the company has a growing relationship with the Microsoft Office 365 team. And in the business security market, C Spire recently hosted a half-day summit featuring such key partners as Apple, Cisco Systems, Hitachi Vantara, Horne Cyber, RSA and Dell Technologies.
Additional C Spire-TekLinks Deal Details
The companies today provided additional details about the deal. Key points include:
Financial terms were not disclosed.
The acquisition and merger integration process should be completed within 60 to 90 days.
TekLinks has primary operations in three states – Alabama, Mississippi and Tennessee. The company’s key verticals are health care and financial services.
Earlier TekLinks acquisitions and M&A deals have included Guidant Partners, Claris Networks, and ClinicAnywhere (formerly ETG).
In a prepared statement, TekLinks President Don Monistere said: “We’re excited about becoming part of a company that shares our long tradition of passionate focus on superior customer service. With this combination, C Spire is poised to lead the next wave of professional and managed IT services for companies.”
Monistere will transition to General Manager of C Spire Business Solutions.
TekLinks CEO Jim Akerhielm said: “In pursuing this transaction, it quickly became evident that the two companies were very much aligned in terms of team culture and strategic focus. I am incredibly excited about the future of the combined teams.”
Last fall, C Spire launched an initiative to bring fiber-based 1 Gbps fiber-based ultra high-speed internet access to up to 250,000 small and medium-sized businesses in Mississippi, the company says.
C Spire continues to expand its voice, data, managed and cloud services for government agencies and private businesses and operates several Uptime Institute-certified data centers, the company adds.
Bank Street Group served as the exclusive financial advisor to C Spire in connection with this transaction.
PS: We’re aware of two additional private equity firms that are seeking to exit their MSP investments. We’ll let you know how those situations evolve…