Broadband service provider Fastwyre has announced completion of its acquisition of Moundville Communications, an Alabama telecom provider, expanding Fastwyre’s footprint into its sixth state.
Formerly known as American Broadband, Fastwyre operates in southern and midwestern U.S. states of Louisiana, Missouri, Texas, and Nebraska – also operating in rural areas of Alaska.
“This acquisition accelerates our growth by providing immediate access to vibrant communities in Alabama,” Chris Eldredge, CEO of Fastwyre stated in the release. “We look forward to furthering the expansion of our high-quality, reliable broadband services into new Alabama communities, including those in Hale and Tuscaloosa Counties.”
While the transaction terms are confidential, Moundville Communications will be a wholly owned subsidiary of Fastwyre, Fastwyre SVP Jason Nicolay told SDxCentral.
The former CEO and president of Moundville Communications noted that the gained resources of Fastwyre will enable Moundville to become the “preferred regional fiber-based broadband provider in the area.”
Fastwyre shows no sign of slowing down in its appetite for acquisition and expansion. In a release first announcing the acquisition last fall, Nicolay noted Fastwyre will continue seeking new acquisition opportunities in Alabama and beyond. He added in the interview with SDxCentral that this is part of a "dual-prong growth plan" to both seek more acquisitions as well as build new fiber networks in nine communities across its six operating states.
And the broadband brand was not the only mid-Atlantic fiber company to expand this week. North Carolina- based company Lumos announced a $100 million project, connecting 1,200 miles of fiber to businesses and residents across South Carolina, set to begin mid year.
Lumos was formed recently by a joint branding this summer between North Carolina’s NorthState Virginia’s Lumos Networks with a grand goal to bring over 20,000 miles of fiber optic network and reach 1 million businesses and residents by 2026.
While alternative strategies to closing the digital divide in rural U.S. regions have emerged, the high capacity and scalability of fiber keeps it a primary method amongst telecom officials.
Lumos CEO Brian Stading told SDxCentral in an interview, “Fiber is internet innovation. Not only does fiber have unlimited data capacity and speed, but it’s also reliable, accessible, and most importantly, ready for whatever the future holds.”
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