CBTS completes sale to TowerBrook Capital Partners
CBTS, the former business services provider division of altafiber, confirmed the completion of its acquisition by TowerBrook Capital Partners.
TowerBrook reached a deal to acquire CBTS from altafiber in February, signaling what it says is a commitment to invest in enabling it to further its mission to serve enterprise customers.
In tandem with the acquisition's close, CBTS named its newly appointed board of directors. The board includes industry visionaries with extensive experience leading technology companies through periods of exponential growth.
In addition to leaders from TowerBrook and CBTS, the board includes three key industry veterans: former Tata Consulting and Wipro executive Abidali Neemuchwala, Cisco veteran Rick Snyder, and former Deloitte tax and legal expert Jerry Leamon.
Jeff Lackey, President and CEO of CBTS, sees potential upside through TowerBrook’s ownership.
“This accelerates our customers’ ability to harness the power of industry-altering technologies, a top priority for many business leaders,” he said. “TowerBrook’s vision and strategic investments will support CBTS’ growth in these areas, fueling our expansion in the markets we serve.”
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About the Author
Sean BuckleySean Buckley
Sean is the Editor-in-Chief of Lightwave. He establishes and executes Lightwave's editorial strategy across its website, email newsletters, events, and other information products. Before coming to Lightwave in July 2023, he served as editor of Broadband Communities. Earlier, he served as senior editor of FierceTelecom and the editor of the former Telecommunications Magazine. He got his start in the optical industry in 1998 when he became the editor of enterprise and optical networks at Information Gatekeepers. He has a BA in English from the University of Massachusetts, Boston, and lives in Dracut, Mass, with his wife, two sons, and his cat, Dove.
