Cox Communications has finalised the acquisition of the commercial services segment of Charlotte, North Carolina-based Segra, which it says is one of the largest privately held fibre infrastructure providers in the US. Segra owns and operates fibre networks spanning nine Mid-Atlantic and south-eastern states. The telco provides enterprise and carrier customers with Ethernet, MPLS, dark fibre, voice and cloud solutions and data centre services.
Cox says that the investment represents ‘one of the largest in Cox Communications history’. While the official value of the deal has not been disclosed, back in April 2021 sources with knowledge of the matter informed Bloomberg that Cox was prepared to pay up to USD3 billion for the assets.
TeleGeography notes that 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.