This M&A deal 157 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
Jaguar of Owatonna, Minnesota, has an extensive fiber network throughout Southern Minnesota. Jaguar has operated since 1999, delivering voice, video, and broadband telecommunications to the region through its 2,000-mile fiber-optic network.
The transaction is expected to close in the coming months pending regulatory approval. ChannelE2E reached out to a spokesperson for MetroNet, but they said they were unable to provide additional comment at this time. More information will be available after MetroNet receives regulatory approval, the spokesperson said.
MetroNet launched in 2005 with a fiber-optic network in Greencastle, Indiana. The company now serves nearly 100 communities in Minnesota, Indiana, Illinois, Iowa, Kentucky, Ohio, and Florida, according to its website.
Fiber Optic M&A
M&A activity in the fiber optic networking market has been steady -- though we don't know if deal flow will slow down amid the coronavirus pandemic.
Still, deals of note include:
- February 2020: Everstream, a Cleveland-based fiber networks provider, acquired Detroit’s Rocket Fiber.
- May 2019: FirstLight acquired Maine Fiber Company, extending FirstLight’s fiber network throughout Maine and providing a unique route for the company into Canada
- May 2019: Fiber network owner Zayo Group Holdings was bought by Digital Colony Partners and EQT Partners for more than $8 billion.
- Apr 2018: ZenFi Networks and Cross River Fiber merged to create a “leading communications infrastructure provider” that offers fiber and colocation services in the New York and New Jersey metro areas.
- May 2018: ExteNet Systems acquired Hudson Fiber Network (HFN), gaining a fiber optic infrastructure footprint across the New York and New Jersey region.
- Jul 2017: EQT bought Lumos Networks for approximately $950 million.
- Dec 2016: Consolidated Communications acquired FairPoint Communications, a broadband fiber and managed services provider for $1.5 billion in stock.