Cox Communications expands fiber play with purchase of Segra's commercial enterprise and carrier business
Cox Communications says it has agreed to acquire the commercial services business unit of Charlotte, N.C.-based Segra for an undisclosed sum from EQT Infrastructure. The business unit serves commercial enterprise and carrier customers in nine states in the Mid-Atlantic and Southeast via fiber-optic network infrastructure. EQT will retain ownership of fiber to the premises (FTTP) assets that serve residential and small- to medium-sized business customers in Virginia and North Carolina. Cox did not predict when the deal would close; it is subject to the usual regulatory approvals and closing conditions.
Segra was created in 2019 when EQT combined two of its holdings, Lumos Networks and Spirit Communications (see "Segra new name for Lumos Networks, Spirit Communications combination"). The agreement follows similar Cox transactions over the past few years involving such companies as EasyTel, EdgeConneX, InSite Wireless, StackPath, Unite Private Networks, and ViaWest.
"Cox is focused on buying and investing where it makes sense, and we believe that the demand for broadband infrastructure will continue to grow, making fiber an attractive area for long-term investment," commented Pat Esser, president and CEO, Cox Communications. "Acquiring Segra's commercial services business is another key milestone in our pursuit of strategic infrastructure to ensure that we're providing the best products and services to our customers."
Assuming the transaction closes successfully, Segra's commercial services group will continue to operate as a standalone business within Cox’s portfolio of companies. The existing management team will continue to lead the unit. Segra’s commercial services business currently offers Ethernet, MPLS, dark fiber, advanced data center services, IP and managed services, voice, and cloud services.
"Our relationship with Cox will allow Segra to leverage expert resources, capabilities and strategic insights in order to scale up operations and accelerate long-term growth," said Timothy Biltz, CEO of Segra. "Cox and Segra are equally devoted to the communities we serve. We will be even more strongly positioned to meet growing demand from carrier and enterprise customers for high-bandwidth fiber-infrastructure solutions. I would also like to thank EQT for its continued guidance and invaluable support as we worked to grow the business over the last nearly four years."
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Stephen Hardy | Editorial Director and Associate Publisher, Lightwave
Stephen Hardy is editorial director and associate publisher of Lightwave and Broadband Technology Report, part of the Lighting & Technology Group at Endeavor Business Media. Stephen is responsible for establishing and executing editorial strategy across the both brands’ websites, email newsletters, events, and other information products. He has covered the fiber-optics space for more than 20 years, and communications and technology for more than 35 years. During his tenure, Lightwave has received awards from Folio: and the American Society of Business Press Editors (ASBPE) for editorial excellence. Prior to joining Lightwave in 1997, Stephen worked for Telecommunications magazine and the Journal of Electronic Defense.
Stephen has moderated panels at numerous events, including the Optica Executive Forum, ECOC, and SCTE Cable-Tec Expo. He also is program director for the Lightwave Innovation Reviews and the Diamond Technology Reviews.
He has written numerous articles in all aspects of optical communications and fiber-optic networks, including fiber to the home (FTTH), PON, optical components, DWDM, fiber cables, packet optical transport, optical transceivers, lasers, fiber optic testing, and more.
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