A New York company has acquired all of the assets of a Lower Paxton Township nonprofit.
FirstLight, a provider of fiber-optic data, Internet, and cloud and voice services has signed an agreement to acquire all of the assets, including the fiber network and related customer contracts of the Keystone Initiative for Network Based Education and Research.
When the transaction is complete, KINBER will be continuing its work providing research and education connectivity, investing in underserved and unserved communities. Following the acquisition, FirstLight will support KINBER’s networking needs.
“The KINBER board of directors unanimously agrees that this asset sale is the right strategic direction for KINBER and will better enable the organization to focus on its core mission of providing research and education networking capacity and support in Pennsylvania, while working to promote broadband adoption in critical unserved and underserved areas,” KINBER board chair, Kenneth Blackney said in a press release.
FirstLight is a 21-year-old company based in Albany and serves the networking needs of national telecommunications providers, health care organizations, high-tech manufacturing and research facilities, financial institutions, colleges and universities, K-12 schools, public safety agencies among other clients. FirstLight was acquired by Antin Infrastructure Partners, two years ago.
“Acquiring the KINBER network is very exciting for FirstLight,” Kurt Van Wagenen, president and CEO of FirstLight Fiber said in the press release. “It builds upon our recent expansion in the eastern part of the state and will enable us to offer fiber-based broadband services to more organizations throughout the commonwealth.”
The transaction is expected to close in the fourth quarter of 2020, following the satisfaction of regulatory approvals. Financial terms of the acquisition were not disclosed.
Firstlight plans to have offices in Pennsylvania and once the KINBER acquisition concludes, following regulatory approvals, it plans to take over the office at 801 East Park Drive, Suite 106-A in Lower Paxton Township. The company is also considering additional office space, but have not yet finalized those plans.
“Over the past 10 years, KINBER has become the premier research and education fiber network that delivers connectivity to underserved and unserved areas of Pennsylvania,” KINBER president and CEO Nathan Flood said in a press release. “Through our 1,800-route mile network across 47 counties, KINBER has been able to provide the critical infrastructure to research, education and community institutions. As we look toward the next chapter, we’re excited to see the expansion and growth opportunities that FirstLight will create.”
You can follow Daniel Urie on twitter @DanielUrie2018 and you can like PennLive’s business page on Facebook at @PennLiveBusiness