When it comes to network operators of all stripes, the M&A season warmed up early in 2010 and has only gotten hotter since. In fact, there have been so many it is actually quite a feat of memory to list them all. It hasn’t all been metro or regional fiber, though that has been the biggest focus. Let’s take a quick stroll down the aisle of transactions thus far, categorized by who has been doing the buying. I’m including M&A targets with substantial US network assets only, with the announcement coming on January 1 or after. If I’ve missed any, please let me know and I’ll add it!
By Private Equity
| Target | Buyer | Announced | Status |
|---|---|---|---|
| RCN | ABRY Partners | 3/6 | Complete |
| DukeNet | Alinda Capital Partners (50% stake) | 6/25 | Complete |
| Fibertech | Court Square Capital Partners | 8/26 | In Process |
| Unite Private Networks | Ridgemont Equity Partners | 8/31 | In Process |
By PE-owned or Private Operators
| Target | Buyer | Announced | Status |
|---|---|---|---|
| US Metropolitan Telecom | Cinnabar | 1/14 | Canceled |
| Mzima Networks | PacketExchange | 1/18 | Complete |
| AGL Networks | Zayo | 3/24 | Complete |
| Megapath | Covad | 3/31 | Complete |
| Veroxity | Lightower | 5/25 | Complete |
| Speakeasy | Covad/Megapath | 6/11 | Complete |
| American Fiber Systems | Zayo | 6/30 | In Process (10/1) |
| Lexent Metro Connect | Lightower | 9/14 | In Process |
By Public Companies
| Target | Buyer | Announced | Status |
|---|---|---|---|
| Qwest | CenturyLink | 4/22 | In Process |
| Fibernet | NTELOS | 6/20 | In Process |
| SouthEast Telephone | Lightyear | 7/1 | In Process |
| KDL/Norlight | Windstream | 8/17 | In Process |
| Tinet | Neutral Tandem | 9/9 | In Process |
| Cavalier | PAETEC | 9/13 | In Process |
Wow, that’s 17 18 acquisitions announced thus far in 2010, with 1 canceled, 7 complete, and 10 still pending. So who else is for sale out there in the US market?
Still For Sale (Or rumored to be)
| One Communications |
| Alpheus Communications |
| NSTAR Communications |
| Reliance Globalcom |
| Others? |
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Categories: Mergers and Acquisitions · Metro fiber
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Added the UPN/Ridgemont private equity deal to the list. I knew I had to have forgotten one!