Goldman Sachs to buy FTTP broadband provider ImOn
ImOn Communications, LLC, says it has agreed to by acquired by the Infrastructure investing business within Goldman Sachs Asset Management. Terms of the deal for the company, which serves customers in eastern Iowa via fiber to the premises (FTTP), were not disclosed. ImOn expects the sale to close in the first half of this year, subject to the customary regulatory approvals.
Founded in 2007 and based in Cedar Rapids, ImOn serves residential and business customers in Iowa via more than 2,000 miles of FTTP and related infrastructure. The company says its fiber broadband network “reaches” more than 60,000 residences and business structures. The sale to Goldman Sachs will include additional investments that will expand ImOn’s FTTP infrastructure, the company said.
“The ImOn team is thrilled to be working with Goldman Sachs. The ImOn difference is our high-quality fiber-optic broadband network, our commitment to providing the highest level of customer service, and our support of the communities we serve,” said Patrice Carroll, founder and CEO of ImOn. “Goldman Sachs shares our values and supports ImOn’s vision. They will be a great partner to help us implement our ambitious growth plans.”
"Increasing usage and reliance on broadband connectivity by households and businesses create a highly attractive growth opportunity for ImOn to deploy FTTP infrastructure. We are incredibly excited to partner with Patrice and the rest of the ImOn management team, and to be ImOn’s strategic and capital partner as it executes this next phase of growth,” added Leonard Seevers, a partner who leads digital infrastructure investing within Goldman Sachs Asset Management.
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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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