Transaction enhances FirstLight's portfolio of Managed Services in support of its Customers' need for Comprehensive Monitoring Solutions
ALBANY, N.Y., June 9, 2020 /PRNewswire/ -- FirstLight, a leading provider of fiber-optic data, Internet, data center, cloud and voice services to enterprise and carrier customers throughout the Northeast, announced today that it has signed a definitive agreement to acquire TruePath Technologies ("TruePath"). TruePath offers a secure, dedicated, cloud-based solution that is a fully managed monitoring software system that configures and maintains its client's monitoring software remotely whether it is Open Source or enterprise grade software. This transaction will enhance FirstLight's Managed Services portfolio by adding a proven team with expertise in deploying and supporting Monitoring Solutions.
"FirstLight has leveraged the capabilities of TruePath to provide its monitoring services to clients for many years. It is through this relationship that we have come to know and appreciate their expertise in this important growth area," said Kurt Van Wagenen, President and CEO of FirstLight. "Unlike our recent acquisitions which focused on purchasing existing fiber assets, this transaction enhances our Managed Services portfolio and will speed the introduction of new services, such as our recently launched Network Monitoring service as well as the continued enhancement of our existing Enterprise Monitoring solution."
Founded in 1999, FirstLight has been building and operating its own fiber optic network for more than 20 years. With an expert team, FirstLight serves the networking needs of national telecommunications providers, CLECs, and leading enterprises, including healthcare organizations, high tech manufacturing and research facilities, financial institutions, colleges and universities, K-12 schools, public safety agencies, as well as state and local governments.
"We have worked with FirstLight for many years supporting an outsourced Enterprise Monitoring solution to FirstLight's customers. This service, based on industry leading technology and leveraging best practices, is the 'monitor of monitors' where we have the ability to monitor a client's complete environment, including software, applications, raw packets, cloud, flow, phone systems and environmentals. In addition to Enterprise Monitoring, we recently engaged with FirstLight to enhance their service offerings with the addition of Network Monitoring capabilities targeted at FirstLight's Internet customers who are seeking to gain more insight into network performance. Through this long standing, positive working relationship, we have come to see the immense value in joining forces with FirstLight to help expand and enhance its portfolio of Managed Services," said Douglas Mauro, President of TruePath Technologies, who will remain with FirstLight to help lead its Managed Services practice.
"This transaction ensures that FirstLight continues to have the complete service portfolio backed by a team with the requisite knowledge and skill set to continually enhance and expand its solutions to meet the needs of its customers. Having this capability inhouse allows us to seamlessly and rapidly deploy the solutions our clients demand," said Patrick Coughlin, Chief Development Officer for FirstLight.
Clayton Capital Partners served as financial advisor and Scolaro Fetter Grizanti & McGough, P.C. served as legal counsel to TruePath in connection with this transaction. Morgan, Lewis & Bockius LLP served as legal counsel to FirstLight. The transaction is expected to close in the third quarter of 2020, following the satisfaction of customary regulatory approvals. Financial terms of the transaction were not disclosed.
About FirstLight Fiber
FirstLight, headquartered in Albany, New York, provides fiber-optic data, Internet, data center, cloud and voice services to enterprise and carrier customers throughout the Northeast connecting more than 9,000 locations in service with more than 30,000 locations serviceable by our more than 20,000-route mile network. FirstLight offers a robust suite of advanced telecommunications products featuring a comprehensive portfolio of high bandwidth connectivity solutions including Ethernet, wavelength and dark fiber services as well as dedicated Internet access solutions, data center, cloud and voice services. FirstLight's clientele includes national cellular providers and wireline carriers and many leading enterprises, spanning high tech manufacturing and research, hospitals and healthcare, banking and financial, secondary education, colleges and universities, and local and state governments.
About TruePath Technologies
Since 2006, TruePath has provided industry-leading monitoring software and services that put you, the customer, first.
We specialize in configuring and maintaining your monitoring software so you can avoid costly network downtime and maintenance and focus on what is most important: moving your business forward.
Statements included herein may constitute "forward-looking statements", which relate to future events, the future performance, or financial condition of TruePath following the acquisition of TruePath by FirstLight. These statements are not guarantees of future performance, condition, or results and involve a number of risks and uncertainties. Actual results and condition may differ materially from those in the forward-looking statements as a result of a number of factors.