This is M&A deal number 220 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
The deal was first announced in December 2019. This acquisition will help ensure the scale, reliability, and strength of Segra’s fiber network and operations, the buyer said.
Segra is one of the largest fiber infrastructure bandwidth companies in the Eastern United States. By adding NorthState’s near-3,000 mile fiber network, Segra continues its expansion within the region. The company’s network connects more than 10 thousand locations and six data centers along the eastern seaboard.
Tim Biltz, CEO of Segra, commented:
“The Segra team will build on NorthState’s success by focusing on serving the customer first. The acquisition furthers the delivery of a robust set of products, an expanded state-of-the art fiber network, and a superior service experience to all customers throughout our expanded service area.”
NorthState’s history stretches back to 1895 when the company began operations as High Point Telephone Exchange. The company is now branded as “Northstate a Segra Company.” The close of the transaction also brings the retirement of longtime NorthState president and CEO Royster Tucker III.
“I have the utmost respect for Segra’s leadership and for the exceptional reputation they have earned in our industry. As we transition our company, I have complete confidence that our customers will continue to receive outstanding service and the premium technologies they depend on in business and life.”