Greenlight Networks, which provides broadband via fiber to the home (FTTH) in upstate New York, says it will receive up to $300 million from private equity firm Oak Hill Capital to expand its FTTH footprint from almost 90,000 homes to more than 800,000 homes over the next few years. Greenlight says the expansion will encompass “New York state and beyond.”
The service provider operates in 20 municipalities in the Rochester, Buffalo, Binghamton, and Albany areas (see, for example "Greenlight Networks expands New York FTTH network"). It offers homes and small businesses broadband connections of up to 2 Gbps via FTTH.
“We are proud to be part of the Oak Hill family of companies as we share a common belief that wide-spread fiber deployment is necessary to provide customers with high-speed broadband connections at prices they can afford,” said Greenlight Founder and Chief Executive Officer Mark Murphy. “People’s livelihoods and lifestyles, as well as the continued economic development of the communities we serve, rely on the expansion of fiber networks. We are excited to partner with Oak Hill Capital to bring future-proof fiber networks to hundreds of thousands of more homes.”
“We are excited to formally launch our new partnership with Mark Murphy and the rest of the talented Greenlight management team. Oak Hill believes strongly in the significant benefits that reliable, high-speed fiber internet access creates for all communities. We look forward to working with the Greenlight team to bring these services to many underserved cities, towns and villages across New York state and the Northeast,” added Scott Baker, a partner at Oak Hill.
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