Tech Valley Communications, a New York-based telecom provider focused on enterprise customers, has closed on its acquisition of segTEL.
Lebanon, N.H.-based segTEL provides fiber-optic telecom services to large enterprises, carriers and wholesale customers throughout New Hampshire, Vermont, Massachusetts and Maine.
Following the acquisition, Albany, N.Y.-based Tech Valley Communications now controls a network with more than 150,000 fiber miles and roughly 700 fiber-lit buildings, according to Kevin O’Connor, co-founder and CEO of Tech Valley. O’Connor also said the purchase advances his company’s objective to build a robust fiber footprint in the Northeast.
The merger “will expand geographic reach and deepen relationships with wholesale, carrier and large enterprise customers and is expected to propel their market positions as the businesses are able to offer customers more extensive services across a broader coverage area," said Steven F. Kaplan, a general partner at Riverside Partners, a Boston-based private equity firm with ownership in Tech Valley.
Last year, Riverside Partners and Tech Valley’s management team finalized the purchase of Tech Valley from its former shareholders.
