Ohio-based telco Altafiber has struck an agreement to acquire the broadband infrastructure assets of Bridgewired, LLC.
Financial terms of the deal were not disclosed, but Altafiber, previously known as Cincinnati Bell, did confirm the agreement means it assumes responsibility for Bridgewired’s existing customer base along with its fiber network.
Bridgewired, which is based in Waynesville, Ohio, has also agreed to provide certain management services to Altafiber under a transition services agreement that will be entered into at closing.
The deal is expected to close during the third quarter of this year.
“The Bridgewired team shares our commitment to delivering an outstanding customer experience and increasing digital equity in the areas we serve through broadband connectivity,” said Jason Praeter, president of consumer & small business, Altafiber.
“We look forward to building on the strong foundation Bridgewired has established and increasing access to gigabit Internet to consumers and businesses in Warren County, Greene County, and Clinton County.”
Altafiber has invested more than $1.5 billion into its fiber network so far, which the regional provider claims to reach 80 percent of premises in Greater Cincinnati.
Formed in 2016, Bridgewired started building fiber in Warren County, before expanding into Greene County and Clinton County.
The company currently operates 65 miles of mainline fiber optic lines that offer gigabit connectivity to approximately 1,500 addresses.