FirstDigital Telecom closes Veracity Networks acquisition to expand Utah fiber footprint
Fiber-based business and cloud communications services provider FirstDigital Telecom says it has closed its acquisition of Veracity Networks LLC, a counterpart based in Lindon, UT. The deal expands the company's footprint in the state to reach more than 10,000 on-net and near-net buildings, making it the largest private fiber network in Utah, FirstDigital asserts. Terms of the deal were not disclosed.
"Utah has undergone extraordinary growth, making the acquisition of Veracity Networks and its strong presence in Utah the perfect complement to our existing Utah network," said FirstDigital President and CEO Wesley McDougal. "We've had a longstanding relationship with the Veracity team. This is a tremendous opportunity to combine forces and create something special in the state of Utah. We look forward to continue delivering Utah-area businesses with the high-capacity, services they've come to expect from their fiber network provider."
The Veracity Networks acquisition complements FirstDigital’s focus on serving the needs of customers in the Western United States. The buy follows the purchase of Level 3/CenturyLink/Lumen metro network assets in southern Arizona in 2018. The addition of Veracity Networks also provides access to a global cloud communication platform that supports customers in several countries.
"This acquisition marks a step forward for Veracity customers and team members," commented Marshall Erb, CEO of Veracity Networks. "We have matured into a rapidly growing and profitable business offering internet and data services on our fiber network as well as a full suite of cloud collaboration and managed services to small, medium, and enterprise customers around the world. By joining FirstDigital, our customers have access to the same incredible 'World Class Service with a Local Touch' coupled with the added benefit of FirstDigital's much larger fiber footprint."
Apollo Global Management, Inc. (NYSE: APO) announced that funds managed by its affiliates have agreed to invest $200 million of preferred equity in FirstDigital Telecom to fund further growth.
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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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