Deepens FirstLight's fiber footprint in Westchester, Rockland and Putnam counties
ALBANY, N.Y., June 3, 2020 /PRNewswire/ -- FirstLight, a leading provider of fiber-optic data, Internet, data center, cloud computing and unified communications services to enterprise and carrier customers throughout the Northeast, announced today that it has signed a definitive agreement to acquire BestWeb.
This transaction enhances FirstLight's capabilities in Westchester, Rockland, and Putnam counties and deepens its existing fiber network throughout the lower Hudson Valley.
"BestWeb is an ideal match for FirstLight. The organizations have worked together for many years, and in fact, BestWeb currently leverages FirstLight's fiber network to help serve its clients," said Kurt Van Wagenen, President and CEO of FirstLight. "The acquisition will deepen our fiber footprint in this region by adding approximately 170 route miles of fiber and builds upon our collective success serving K-12 schools under the federal e-rate program."
"This is a positive development for BestWeb, its employees and clients. The companies have complementary services and are both focused on providing high quality support to clients. Now as part of FirstLight, we have a broader service portfolio and enhanced capabilities to continue to support the needs of our clients," said Mark and Andrew Dickey, the co-owners of BestWeb.
This is the sixth transaction that privately held FirstLight has announced since being acquired by Antin Infrastructure Partners in 2018. Antin provides the support and guidance necessary to support FirstLight's impressive growth.
Bank Street Group LLC served as exclusive financial advisor to BestWeb in connection with this transaction. Morgan, Lewis & Bockius LLP served as legal counsel to FirstLight. The transaction is expected to close in the fourth quarter of 2020, following the satisfaction of customary regulatory approvals. Financial terms of the transaction were not disclosed.
For more information, visit http://www.firstlight.net.
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.
BestWeb, based in Westchester County, New York, is a facilities-based service provider offering Internet, data and telephone services to customers in the lower Hudson Valley through their privately owned fiber optic network connecting 167 locations. In addition to private entities, BestWeb provides service to more than 30 public school districts in Westchester, Rockland, Putnam, and Dutchess Counties.
To learn more about BestWeb, visit their website at www.bestweb.net.
Statements included herein may constitute "forward-looking statements", which relate to future events, the future performance, or financial condition of BestWeb following the acquisition of BestWeb 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.