There was a bit of consolidation in the last mile yesterday in the northeast. Archtop Fiber says it has entered into a stock purchase agreement with Momentum Telecom to acquire Warwick Valley Telephone (WVT), continuing their regional expansion in upstate New York.
WVT is an RLEC based in Orange County NY along the border with northern New Jersey. Momentum acquired the business in the deal for Alteva in 2015. Momentum focuses on managed cloud communications services, and Archtop plans to leverage Momentum’s capabilities in the greenfield FTTH markets it is actively building out. As for WVT, Archtop plans to roll out FTTH across the company’s footprint.
This is Archtop’s third acquisition since it was founded last summer. In November they announced the purchase of GTel, and in January it was Hancock Telephone Company’s turn. Meanwhile the company is also building out in Saugerties and other markets in New York’s Hudson Valley. They have indicated plans to move into Massachusetts and Pennsylvania as well.
Financial details of the deal were not disclosed, but closing is expected in late 2023 assuming the regulatory approval process goes as expected.
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Categories: FTTH · Mergers and Acquisitions
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