Florida-based Summit Broadband has announced the acquisition of NexGen Connected Communities, an ISP which has delivered communications solutions engineered specifically for multi-tenant residential communities since 2015. Summit Broadband CEO Kevin Coyne commented: ‘Acquiring NexGen was a strategic decision for us. NexGen has a strong customer base that gives Summit additional opportunity to expand our portfolio of residential and commercial customers.’
According to TeleGeography’s GlobalComms Database, Washington, DC-based investment firm Grain Management completed the acquisition of a majority interest in Summit Broadband from previous owner Cable Bahamas in January 2020. The deal, which the Bahamian investors indicated was valued at USD332.5 million, was agreed on 19 August 2019.