Cox Communications has entered into a definitive agreement to acquire Charlotte, North Carolina-based Segra, which it says is one of the largest privately held fibre infrastructure providers in the US. Cox will acquire Segra’s commercial services segment, which serves commercial enterprise and carrier customers in nine states in the Mid-Atlantic and South-east. As part of the transaction, EQT Infrastructure will retain ownership of Segra’s fibre-to-the-premises (FTTP) residential and SME segments in Virginia and North Carolina. Segra’s existing management team will continue to lead the unit following the acquisition. The acquired business will retain the Segra brand and operate as a standalone entity within the Cox family of companies.
TeleGeography notes that, while the official value of the deal has not been disclosed, sources with knowledge of the matter recently informed Bloomberg that Cox was prepared to pay up to USD3 billion for the assets. Segra was formed in 2018 via the EQT-backed merger of Lumos Networks and Spirit Communications; the enlarged entity was rebranded as Segra in 2019.