US Internet service provider Surf Internet has acquired the fiber-optic network assets of MiSignal.
The acquisition comes months after Surf secured $100 million worth of debt financing from DigitalBridge Credit, a division of DigitalBridge Group, Inc in February to support the company's aims of driving its broadband rollout across the Great Lakes region.
MiSignal is a fiber-optic ISP based in eastern Michigan, providing services to residential and commercial customers. Financial terms of the acquisition were not disclosed.
As part of the deal, all MiSignal team members are joining the Surf Internet team, except its business phone system services and customers, which will continue to operate under the MiSignal name.
Surf announced it will invest an additional $20 million in Livingston County, Michigan, over the next three years, with the purchase of Howell-based MiSignal's fiber broadband network expected to expand its growth in the county.
"At Surf Internet, we believe that broadband is one of the greatest equalizers of our time, providing access to the same internet-based services to all people regardless of where they live or their socioeconomic status," said Gene Crusie, CEO of Surf Internet.
"We are very excited to join forces with the MiSignal team. While our networks are already connected in multiple locations, the truly exciting thing for us is the transformative potential of Surf and MiSignal to bridge the digital divide in Livingston County," he continued.
Surf currently serves over 29,000 customers across 45 markets and has previously said it expects to exceed 100,000 premises passed with its FTTP service this year.