Update: ChannelE2E covered the deal in June 2020, and the buyout was completed on September 1, 2020. The deal marks the 7th acquisition announced by FirstLight since being acquired by Antin Infrastructure Partners in 2018.
As of June 2020, this was M&A deal number 246 that ChannelE2E had covered so far in 2020. The deal list has since grown significantly. See the complete M&A deal list here.
TruePath is headquartered in Victor, New York – about 18 miles Southeast of Rochester. The firm offers a fully managed monitoring software system that works remotely, whether the client’s system is Open Source or enterprise-grade software. Key partners include SolarWinds MSP.
FirstLight says the transaction will enhance its Managed Services portfolio by “adding a proven team with expertise in deploying and supporting Monitoring Solutions.” The companies have a longstanding relationship, with FirstLight having leveraged TruePath’s monitoring services for many years.
FirstLight’s TruePath Acquisition: Executive Commentary
In a prepared statement about the deal, Kurt Van Wagenen, president and CEO of FirstLight, said:
"Unlike our recent acquisitions which focused on purchasing existing fiber assets, this transaction enhances our Managed Services portfolio and will speed the introduction of new services, such as our recently launched Network Monitoring service as well as the continued enhancement of our existing Enterprise Monitoring solution."
Douglas Mauro, president of TruePath Technologies, said:
"Light's Internet customers who are seeking to gain more insight into network performance. Through this long standing, positive working relationship, we have come to see the immense value in joining forces with FirstLight to help expand and enhance its portfolio of Managed Services.”
Mauro will remain with the company to help lead its Managed Services practices.
While this latest deal expands the company’s Managed Services practice, FirstLight has been building and operating its own fiber optic network since the company's 1999 launch.
The company has been active on the M&A front. In 2017, the firm purchased Finger Lakes Technologies Group. And in 2019, FirstLight acquired Maine Fiber Company. Earlier this month, FirstLight bought the fiber assets of DFT Communications for an undisclosed sum.
FirstLight works with national telecom providers, CLECs, and enterprises including healthcare organizations, high tech manufacturing and research facilities, financial institutions, educational institutes, public safety agencies, as well as local and state governments.