MetroNet says it has merged with fellow independent fiber broadband network provider Vexus Fiber. The combined companies will continue to operate under their current brands and with their current executive rosters. Financial terms of the deal were not disclosed.
Vexus, based in Lubbock, TX, deploys and operates FTTP networks in Texas and Louisiana, with plans for expansion into New Mexico. Markets currently served in those states include Lubbock, Amarillo, Wichita Falls, Abilene, and surrounding areas in Texas, as well as Hammond, Covington, and Mandeville in Louisiana. New FTTP networks are in various stages of deployment in the Rio Grande Valley (see "Vexus Fiber to build FTTH network in Rio Grande Valley Area of Texas"), Tyler, Nacogdoches, and San Angelo, TX; Lake Charles, LA; and Albuquerque and Santa Fe, NM. Investors in the company included Pamlico Capital and Oak Hill Capital.
MetroNet operates or is constructing FTTP networks in more than 120 communities across Indiana, Illinois, Iowa, Kentucky, Michigan, Minnesota, Ohio, Florida, North Carolina, Virginia, Texas, Wisconsin, and Missouri. It received a cash infusion from KKR last April (see "KKR to take stake in MetroNet as part of new funding round"). Oak Hill Capital also is an investor.
Both companies offer gigabit or faster broadband services to their residential and business customers.
“We’re very excited to welcome Vexus Fiber and their associates to MetroNet,” said John Cinelli, CEO of MetroNet. “Vexus has a fast-growth and high-customer-service mentality, very similar to MetroNet, and joining with them allows us to quickly expand our service area to even more Americans.”
“Our mission at Vexus is to bring our high-quality service to as many homes and businesses in the Southwest as possible,” added Jim Gleason, president and CEO of Vexus. “With this merger, we can reach even more people faster.”
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