Telecommunications Acquisitions in 2021

Chicago-based private equity firm Xyresic Capital acquired Tele-Town Hall LLC, a mass-communications services provider. Dallas-based Capital Southwest Corporation backed the transaction by providing a senior secured first-lien term loan and a second-lien term loan and will act as administrative agent on the facility.

International private equity firm Cinven's Seventh Fund will make a majority investment in Ufinet International for an enterprise value of approximately €2.5 billion. Enel, the incumbent minority co-shareholder, will re-invest a minority stake; the deal supports Ufinet's continued international expansion, network investment and buy-and-build growth across Latin America.

Renesas Electronics Corporation completed the acquisition of Celeno Communications on December 20, 2021, for approximately US$315 million, with payments to be made progressively upon achieving certain milestones. Celeno — an Israel‑based developer of advanced Wi‑Fi chipsets and software (including Wi‑Fi 6/6E solutions and Doppler Imaging technology) — becomes a wholly owned subsidiary of Renesas, expanding Renesas' connectivity and Wi‑Fi product portfolio for IoT, industrial, home networking and automotive applications.

Bournemouth-based telecom consolidator 4Com has acquired Southern Communications (also referred to as Southern Business Communications), a Basingstoke-founded provider of fixed-line, data, mobile and cloud services. The deal represents an add-on consolidation for 4Com as it continues a roll-up strategy in the UK B2B telecoms market; Livingbridge, which backed Southern since 2016, has exited the investment.

Yamaha Motor Corporation, U.S.A., through its subsidiary Yamaha Marine Systems Company, Inc., acquired Siren Marine, a Newport, Rhode Island–based maker of marine IoT hardware and connected-boat software. The acquisition (terms undisclosed) follows Yamaha's earlier minority investment and is intended to integrate Siren's connected-boat capabilities into Yamaha's product roadmap to deliver more integrated, connected marine products.

Kane Infrastructure Services, a portfolio platform of Aterian Investment Partners, acquired Cable Solutions, LLC, a Chandler, Arizona-based provider of structured cabling, fiber optic and inside plant services. The transaction is Kane's first add-on and expands the platform's geographic footprint into the Southwest, strengthening its presence in healthcare, education and other commercial end markets.

Ookla has acquired RootMetrics to combine Ookla's Speedtest crowdsourced measurement data with RootMetrics' controlled drive- and walk-test network measurement capabilities. The combined offering will provide mobile operators, network infrastructure providers and governments with integrated network performance analytics, leveraging Ookla's Wind platform alongside RootMetrics' testing and RootScore reporting.

Funds affiliated with DigitalBridge Investment Management have acquired the telecom tower portfolios of Icelandic mobile operators Sýn hf. and Nova hf., creating ÍslandsTurnar, the first independent tower company of scale in Iceland. Sýn and Nova will be long-term dual-anchor tenants on the new company's towers as ÍslandsTurnar supports their 5G deployment plans.

Moa Capital, a U.S.-based growth private equity firm, acquired TeleGeography, a Washington, D.C.-based telecommunications market research and consulting firm, in November 2021. TeleGeography will continue operations under new CEO Michael Owings while maintaining its research offerings and global data products as Moa Capital supports the company's growth.

Carlson Private Capital Partners (CPC) made a significant investment in Millennium, a Delavan, Wisconsin-based value-added distributor and service provider for broadband infrastructure; the transaction closed on November 30, 2021 and financial terms were not disclosed. CPC said the investment will accelerate Millennium’s growth and support expansion into new geographies and enhanced product and technology capabilities while partnering with founder/management.

Synaptics Incorporated completed the acquisition of DSP Group, a provider of voice processing and wireless chipset solutions, in an all-cash transaction valued at approximately $549 million. The deal adds DSP Group's SmartVoice and ULE wireless technologies to Synaptics' portfolio, bolstering low-power edge AI and connectivity capabilities and enabling cross-selling opportunities.

TEOCO Corporation, a provider of analytics and network optimization solutions, acquired Software Synergy, Inc. (SSI), a 30+-year provider of automated routing and optimization software for communications service providers. The deal (announced in May 2022) closed in December 2021 and brings SSI's Universal Routing Solution and toll-free routing capabilities into TEOCO's analytics and routing product portfolio.

BAI Communications has acquired Vilicom, a UK-based specialist in designing, installing and managing high-performance 4G/5G and private cellular networks, to accelerate BAI's growth across the UK and Europe. The deal combines Vilicom's expertise in indoor, offshore and private networks with BAI's scale to expand private 5G and communications-as-a-service offerings across multiple end markets.

Macquarie Capital (the advisory, capital markets and principal investment arm of Macquarie Group) has completed the financial close of an investment in Phil-Tower Consortium Inc (PhilTower), a fast-growing independent tower company in the Philippines. The investment will support PhilTower's aggressive rollout of more than 1,000 sites and enable geographic expansion to meet growing demand for 4G and 5G services.

OptConnect, a portfolio company of Graham Partners, has acquired Silicon Valley-based Premier Wireless Solutions (PWS). The deal brings PWS's IoT network deployment, hardware distribution, and services capabilities into OptConnect's Connectivity-as-a-Service platform to expand product lines, managed services, and end-market reach.

Asterion Industrial Partners has made an investment in MS3 Networks Ltd to accelerate MS3’s rollout of a full‑fibre network across the North of England, targeting service to over 500,000 homes and businesses. The partnership will support network expansion, senior management appointments, and the creation of an emerging regional fibre platform.

Cinven has agreed to make a significant majority investment in Nitel, a Chicago-based provider of managed internet connectivity, SD-WAN and managed cybersecurity services for multi-site SMEs. Financial terms were not disclosed; the deal is an acquisition from the founders and Cinven intends to support Nitel’s organic growth and buy-and-build strategy to expand into adjacent services.

American Tower Corporation has acquired CoreSite Realty Corporation in an all-cash transaction valued at approximately $10.1 billion including assumed debt, paying $170.00 per share. The deal brings CoreSite's 25 highly interconnected U.S. data centers into American Tower's communications real estate platform to accelerate the combined company's edge-computing, interconnection and 5G-related capabilities.

NIC4, a division of Network Innovations, Inc., has acquired U.S. government contractor Knight Sky LLC to combine satellite and terrestrial communications capabilities and expand mission‑critical connectivity offerings for government and military clients. The acquisition will integrate Knight Sky’s managed network and software development capabilities with NIC4’s MAVERICK VSAT services to support customers including the U.S. Space Force, US Army, DISA, FEMA and DHS.

NSI Industries, a Huntersville, North Carolina-based provider of electrical product solutions, has acquired TechLogix Networx, a Madison, Wisconsin fiber optic and collaboration technology manufacturer. The acquisition expands NSI's product portfolio—particularly its Platinum Tools brand—into fiber optic technologies to support distributors and customers transitioning from copper to fiber-based solutions.

Wavenet Limited, a Macquarie Capital Principal Finance-backed UK managed service provider, has acquired Excell Group for an undisclosed sum. The add-on strengthens Wavenet's cloud and workspace capabilities, increases its London/southern presence and adds Excell's business-centre infrastructure to Wavenet's portfolio.

SinglePoint Solutions, a Louisville-based communications technology consultant backed by Soterra Capital, has acquired Sky Technology Partners, a telecom and communications solutions firm based in Wayne, New Jersey. The add-on deal will integrate Sky's vendor-agnostic communications and project management capabilities into SinglePoint to expand market presence and broaden service offerings.

Seaport Capital, a New York-based private equity firm, has invested in Municipal Communications alongside the company's founder and CEO, Peter Corry. The minority growth investment continues Seaport's long-standing partnership with Municipal to support development, ownership and operation of cellular tower assets across the United States.

Solutions 30 SE acquired the business and certain assets of Mono Consultants Ltd on 22 October 2021, strengthening its UK presence and client portfolio in mobile telecommunications infrastructure deployment. The deal brings approximately 165 Mono employees into Solutions 30 and expands the group's capabilities across 5G, fibre and energy-related deployments in the United Kingdom.

ADB Companies, a portfolio company of Warren Equity Partners, has acquired PrimeTech Communications, a Cincinnati-based provider of utility and telecommunications construction services. The acquisition expands ADB's geographic footprint in the Midwest and augments its wireline capabilities as part of ADB's rapid inorganic growth plan.

C Spire has signed a definitive agreement to acquire Troy Cablevision, Inc., with the transaction also including Union Springs Telephone Company, Inc. The deal expands C Spire’s fiber-based broadband footprint in Alabama’s Wiregrass region, enabling expanded residential and business broadband, cable TV, and IT services across multiple counties.

American Tower Corporation acquired DataSite, a regional operator of multi-tenant colocation/data-center facilities in Orlando, Florida and Atlanta, Georgia. The deal adds two colocation assets to American Tower’s data-center portfolio and expands its presence in the Atlanta and Florida markets; DH Capital served as sole financial advisor to DataSite.

Congruex, a national provider of broadband design, engineering, construction, and maintenance services backed by Crestview Partners, has acquired Matrix Engineering, a Schaumburg, Illinois-based fiber engineering and splicing specialist. The acquisition augments Congruex's turnkey design-build platform with additional fiber splicing and outside plant engineering capabilities as an add-on to its existing platform.

Tucows, through its Ting Internet subsidiary, signed a definitive agreement to acquire Simply Bits, a fixed wireless and small fiber internet provider headquartered in Tucson, Arizona. The deal adds ~4,500 customers and 1,100 square miles of fixed wireless network to Ting's footprint, accelerates entry into Southern Arizona, and will retain Simply Bits employees and senior management; the transaction was expected to close in Q4 2021 subject to customary approvals.

QualTek, a national provider of telecom and infrastructure services, has acquired Urban Cable Technology, a regional telecom contractor based in West Chester, Pennsylvania. The acquisition expands QualTek’s wireline capabilities and geographic footprint in the Northeastern United States; financial terms were not disclosed.

Ardian Infrastructure has agreed to acquire Adamo Telecom, a Barcelona-headquartered fiber-to-the-home (FTTH) operator in Spain, from EQT Private Equity (EQT Mid Market Europe fund). Adamo operates an open-access nationwide network (1.8 million homes passed) serving approximately 250,000 retail and wholesale subscribers and employs about 300 people; the transaction is subject to customary regulatory approvals and was expected to close in Q1 2022.

Comcast Business completed its acquisition of Masergy, a Plano, Texas-based provider of software-defined networking (SDN), managed network, cloud and security services. The deal expands Comcast Business's capabilities and channel distribution to better serve large and mid-size (including multi-site global) enterprise customers; financial terms were not disclosed.

L4, LLC, an affiliate of Linx Partners, has acquired a stake in Clear Rate Communications, a Troy, Michigan-based provider of fiber internet, hosted voice, cloud and managed IT services. Founders Thane and Sam Namy will remain in senior management and retain significant ownership as the company pursues expanded geographic reach and growth backed by financing from Texas Capital Bank.

Integrated Tactical Technologies (iT2) has launched via the acquisition of Sonitus Technologies and a manufacturing partnership with Bluewater Defense to develop miniaturized wearable communication and sensing systems for defense, commercial and consumer markets. The deal combines Sonitus' proprietary Molar Mic communications and biometric sensing platform, standing contracts and IP with Bluewater Defense's apparel manufacturing and supply-chain capabilities; terms were not disclosed.

Onecom, the LDC-backed UK business communications and cloud specialist, has acquired Devon-based IP Office Ltd, bringing the Exeter-based team and over 700 customers into the Onecom Group. The deal is Onecom's third acquisition of the year and is intended to extend Onecom's geographic presence and strengthen its capabilities in the health sector.

BAI Communications has completed the acquisition of Mobilitie, a leading privately held U.S. wireless infrastructure company, from Shamrock Capital. The deal brings Mobilitie’s portfolio — including 220 venue DAS networks, ~10,000 small cells and ~300 tower sites plus transit contracts — into the BAI Group to expand its neutral-host 5G and connectivity footprint across North America.

EQT Infrastructure V and Stonepeak have agreed to acquire DELTA Fiber from EQT Infrastructure III, with each buyer taking a 50% stake and co-controlling the company. Headquartered in Schiedam, Netherlands, DELTA Fiber operates an approximately 50,000 km FTTH network connecting about 900,000 households and businesses (approximately 600 employees) and will be supported by the new owners to accelerate rollout to two million connections by 2025.

Great Plains Communications, a Grain Management-backed Midwestern telecom provider, has completed the acquisition of USA Communications, a fiber-focused service provider headquartered in Kearney, Nebraska. The deal expands Great Plains' regional fiber footprint and customer reach in Nebraska and Colorado; financial terms were not disclosed.

UPSTACK has acquired Utah-based IT consulting firm Open Communications LLC; terms were not disclosed. The deal brings Open Communications founder Amanda Heinritz into UPSTACK as a Partner and equity stakeholder, and supports UPSTACK's strategy to scale its cloud and internet infrastructure sourcing platform (backed by a prior $50 million equity investment from Berkshire Partners).

UPSTACK, a New York–based cloud and internet infrastructure platform backed by Berkshire Partners, has acquired Legacy Solutions, a Chicago-based telecommunications consulting firm specializing in telecom expense audits and vendor management. Legacy Solutions' co-founders Michael Sanders and Lauren Sanders will join UPSTACK as partners and equity stakeholders to help expand the platform’s advisory capabilities and support customer succession plans.

American Broadband Holding Company, a PE-backed rural broadband operator, acquired the fiber assets of BNT Broadband and WayneNet to expand its fiber-to-the-home build-out in Wayne, Nebraska. The transaction supports American Broadband's geographic expansion of its 1GB-capable fiber backbone and was announced alongside leadership appointments to support growth.

Advantage GPS, an Irvine-based provider of automotive analytics and GPS risk-mitigation solutions, acquired Michigan-based Asset Tracking Technology, a distributor of GPS tracking devices serving subprime lenders, BHPH dealerships and fleets. The acquisition strengthens Advantage GPS's Midwest presence and ability to deliver in-person service and expanded device distribution while the Asset Tracking Technology team will remain to support the transition.

Lee Equity Partners and Twin Point Capital have acquired a controlling interest in Alliance Corporation from Ironbridge Equity Partners. Alliance, a Mississauga-based value-added distributor of wireless communications technology with cable termination capabilities and a growing U.S. presence, will be led by existing management who retain a meaningful equity stake.

Boston-based private equity firm Fort Point Capital has invested in CellSite Solutions, a Cedar Rapids, Iowa-based provider of telecom infrastructure refurbishment, installation, and maintenance, as a new platform investment alongside the company's management team. The founders, Carter Kramer and Chris Wiese, will continue to lead the company as Fort Point supports growth initiatives with debt financing provided by Enterprise Bank & Trust and GMB Capital Partners and advisors including Kirkland & Ellis and Grant Thornton.

thinQ, a Raleigh-based cloud communications platform (CPaaS), has acquired Denver-based messaging API provider teli and rebranded the combined business as Commio. The deal expands thinQ's messaging capabilities (short/long code, toll-free SMS/MMS) and integrates teli's Messaging APIs with thinQ's Voice APIs to offer a unified CPaaS for SaaS platforms and enterprises.

LDC has backed a buyout of Wifinity, the Kingston upon Thames–based wireless internet service provider, to support the business's UK expansion and infrastructure investment. Existing investor Literacy Capital is reinvesting alongside LDC and the deal will fund significant investment in Wifinity's wireless networks and growth plans under CEO Costas Demetriou.

Funds managed by SDC Capital Partners have acquired a majority interest in IQ Fiber, a residential fiber-optic internet provider headquartered in Jacksonville, Florida. The equity injection will fund IQ Fiber's first-phase network build to pass more than 60,000 homes in the Jacksonville area and support rapid expansion across Northeast Florida.

CBRE Caledon Capital Management has entered into a definitive agreement to acquire a majority equity interest in CitySwitch Tower Holdings, a build-to-suit wireless tower developer and operator, from funds managed by American Infrastructure Funds LLC and other shareholders. The investment (made on behalf of a CBRE Caledon fund and a separately managed account) will support CitySwitch's expansion of its tower portfolio and build-to-suit pipeline across the eastern United States.

Xplornet Communications Inc. has acquired Swift High Speed, a facilities-based rural broadband provider headquartered in Steinbach, Manitoba, including its customers, operations, 218 km of fibre and 119 broadcast towers. The deal transfers Swift High Speed's customers and network to Xplornet while the existing ownership is spinning out employees and equipment into a new fibre installation business, Swift Underground, to continue working with Xplornet on regional FTTH buildout.

Funds advised by Apax Partners and Warburg Pincus have agreed to acquire T-Mobile Netherlands Holding B.V. from Deutsche Telekom AG and Tele2 AB in a deal valuing the company at an enterprise value of €5.1 billion. Under the new ownership, T-Mobile Netherlands will become an independent Dutch company and the buyers plan to support management in accelerating network and fibre-to-the-home growth while continuing to expand its consumer and fixed-broadband customer base.