South Reach Networks Acquires Fiber and Colocation Assets
This is M&A deal number 212 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
About Resurgence and South Reach
Resurgence owns and operates a contiguous long-haul dark fiber network along the East coast of Florida with extended reach into Atlanta, Georgia.
South Reach, backed by private equity firm Turning Rock Partners, owns and operates a Metro and Long-Haul Fiber Optic Network and Carrier Class Data Centers. The acquisition enhances its existing infrastructure located in downtown Miami, the buyer said. The company’s total fiber footprint is now over 400 route miles.
The deal includes over 120,000 fiber miles of available capacity from Jacksonville to Miami, five neutral colocation facilities, important metro networks in Jacksonville and Boca Raton, and direct fiber connectivity to multiple submarine cable landing stations and data centers throughout the state, the company said.
Resurgence will continue to own and operate its network in Georgia, including 80,000 miles of available capacity between Atlanta and Jacksonville. Resurgence will also still own approximately 55 miles of fiber from Jacksonville to the northern Georgia border, the company said, with the South Reach and Resurgence networks to remain a contiguous inter-connected network.
Fiber Optic Network Acquisition: Executive Perspective
Michael Sevret, president of South Reach Networks, said the company is working to expand with key, targeted acquisitions within the state. He commented on the acquisition:
“This asset bolsters South Reach Network’s growing network-centric thesis. The acquired business will be quickly integrated, with resilient connectivity, into our existing platform, adding 10 new Tier 1 Points of Presence and over 350 route miles to our footprint. The resulting combined customer base for South Reach Networks and Resurgence will benefit from enhanced colocation and interconnection service offerings.”