Telecommunications Acquisitions in 2024

Nokia completed the sale of Alcatel Submarine Networks (ASN) to the French State (represented by the Agence des participations de l'Etat) on 31 December 2024, with Nokia retaining a 20% stake and board representation until a targeted exit. The divestment allows Nokia to focus its Network Infrastructure portfolio while positioning ASN under French State ownership to support its continued development as a strategic, vertically integrated submarine cable systems provider.

BearCom has acquired Stone Security, a Salt Lake City–based provider of enterprise physical security products and services, adding more than 225 technical staff and a footprint across the U.S., Mexico and Brazil to BearCom’s security solutions portfolio. The deal, announced Dec. 20, 2024, expands BearCom’s video surveillance and access control capabilities and is the company’s second acquisition since Siris’ 2023 investment.

Enghouse Holdings UK Limited, a wholly owned subsidiary of Enghouse Systems Limited (TSX: ENGH), has acquired Aculab PLC, a Milton Keynes–based provider of on‑premise and cloud communications and AI software solutions. The deal adds Aculab’s CPaaS, AI-driven answering‑machine detection, voice and face biometrics, and media processing/gateway products to Enghouse’s Interactive portfolio to expand capabilities and product offerings.

Houston-based Ezee Fiber acquired Conterra Networks’ New Mexico fiber assets, adding 128 miles of installed fiber across Santa Fe, Rio Rancho and Los Lunas. Terms were not disclosed; Ezee Fiber said the deal will accelerate its FTTH deployment and broader New Mexico expansion as part of a multi-state growth plan.

The Computer Works (TCW), an Arkansas-based fiber and fixed wireless internet provider, received a growth capital investment led by The Stephens Group, LLC alongside existing investor Circumference Group. The funding will accelerate TCW’s fiber expansion into underserved Arkansas communities, support preparation for BEAD funding opportunities, and scale its voice and hosting service offerings.

Capestone, a division of OptConnect, has acquired all activities of Next Era, a France-based distributor of 4G/5G and critical communications solutions. The acquisition brings more than 250 channel partners and customers across France, Southern Europe, DACH and the Middle East to Capestone and expands its managed IoT, eSIM and 5G capabilities across the EMEA region.

Zadarma, a European VoIP provider, has acquired 100% of VoIPVoIP (the consumer division of Kosmaz Technologies LLC) to expand its presence in the North American market. The deal gives VoIPVoIP customers access to Zadarma's cloud PBX, virtual numbers and analytics while providing Zadarma FCC-approved, USA-based operations and local reliability.

CONX Corp., through its subsidiary RED Tech US, LLC, acquired approximately 68% of Paris-based RED Technologies SAS for a maximum purchase price of about EUR 18.6 million in cash, with the remaining shares to be acquired upon achievement of milestones. The acquisition positions CONX to expand its spectrum-sharing and private network capabilities in the CBRS market and accelerate RED Technologies' product development and U.S./international growth.

Inseego Corp. completed the sale of its global telematics business to Ctrack Holdings, a portfolio company of Convergence Partners, for $52 million in cash. The divestiture lets Inseego focus on its core 5G business and repay debt, while Ctrack expands its telematics capabilities and geographic footprint across the UK, EU, Australia and New Zealand.

Teleperformance Group has acquired ZP Better Together, a provider of video relay services and related communication solutions for deaf and hard of hearing communities. The transaction, for which Jefferies served as exclusive financial advisor to ZP, brings accessibility-focused interpreting and VRS capabilities into Teleperformance's global digital business services portfolio; Kinderhook Industries (ZP's sponsor) is the selling stakeholder referenced in coverage.

Accenture has acquired Award Solutions, a Plano, Texas-based provider of training and consulting services in advanced wireless and network technologies, including 5G, IoT, cloud, AI and network virtualization. The Award Solutions team of 29 employees will join Accenture LearnVantage to expand the company's training content and capabilities for network leaders, operations engineers and IT professionals.

Goldman Sachs Alternatives has agreed to acquire Melita, Malta’s leading digital infrastructure owner and operator, from EQT Infrastructure IV. Melita operates a nationwide fiber-powered fixed network, a nationwide 5G mobile network and the largest data center in Malta and has a growing IoT connectivity business; the transaction is subject to regulatory approvals.

CCi Voice, a Redding, Connecticut-based provider of cloud-based voice and unified communications solutions, has acquired IP Genie, a South Windsor phone service company serving municipalities, schools, libraries, nonprofits and businesses across Connecticut. The deal brings IP Genie’s president and seven team members into CCi Voice, adds VoIP/UC capabilities and a no-bid state contract for municipal purchases, and expands CCi Voice’s offerings to include video surveillance and access control.

Omni Fiber and Lit Fiber have agreed to merge, consolidating Lit Fiber's Medina County, Ohio network into Omni Fiber to accelerate fiber-to-the-home expansion and speed market rollout. Both companies are majority-owned by Oak Hill Capital; existing Lit Fiber shareholders Stephens Capital Partners and The Pritzker Organization will remain minority investors and continue to support the business.

Segra and Unite Private Networks (UPN) have completed a planned brand merger and will operate under the Segra name, creating a larger fiber-focused connectivity provider. The combined company expands Segra's network and commercial technology solutions across the U.S.; Segra is a standalone fiber company owned by Cox Communications.

Affiliates of private equity firm Searchlight Capital Partners and British Columbia Investment Management Corporation (BCI) will acquire Consolidated Communications Holdings, Inc. in an all-cash transaction valuing the company at approximately $3.1 billion including assumed debt. The deal, which was approved by the Vermont Public Utility Commission and previously by Consolidated shareholders, will take the Mattoon, Illinois–based fiber and landline provider private to provide greater flexibility to execute its fiber expansion strategy, subject to remaining federal approvals.

Resolute CS, a global connectivity technology company, has acquired iceblue, a UK-based managed internet services provider and owner of the GRID lifecycle automation platform. iceblue will operate as a wholly owned subsidiary with key leadership retained while Resolute CS invests to scale the GRID platform, expand go-to-market efforts, and simplify global connectivity procurement.

Mobile Communications America, Inc. (MCA) has acquired Kay Radio & Electronics Services, Inc. (d/b/a Kay Radio), an authorized Motorola dealer and communications solutions provider based in Alexandria, Louisiana. The acquisition expands MCA’s national footprint into central Louisiana and eastern Texas and brings Kay Radio’s service capabilities and customer relationships into MCA’s network of solution centers.

BCE Inc. (Bell Canada) has completed the acquisition of Ziply Fiber (Northwest Fiber Holdco, LLC) for C$5.0 billion in cash plus the assumption of approximately C$2.6 billion of net debt. The deal expands Bell's fibre footprint into the U.S. (adding ~1.3–1.4 million locations), leaves Ziply operating as a separate unit headquartered in Kirkland, Washington, and is paired with a strategic partnership with PSP Investments to accelerate U.S. fibre deployment.

Rise Broadband has acquired MidAtlantic Broadband's Missouri fiber-to-the-home broadband business operating under the Yondoo Broadband brand, adding almost 10,000 residential and commercial locations across eight eastern Missouri markets. The deal expands Rise Broadband's footprint into Missouri and is supported by its PE backer GI Partners, which noted the transaction furthers the company's geographic expansion and network growth.

InnoCaption has acquired CaptionMate, expanding its mobile call-captioning footprint and multilingual capabilities. CaptionMate will operate as a standalone service supported by InnoCaption's engineering and customer-service teams, with CaptionMate founder Beryl Bucher serving in a temporary advisory role.

E.C.I. Networks, a Canadian provider of open networking solutions, has acquired NoviFlow, a Montreal-based leader in SRv6, service chaining and programmable networking software. The deal bolsters E.C.I.'s portfolio with NoviFlow's high-performance programmable service networking and cybersecurity technology to accelerate innovation and expand capabilities for data center and carrier customers.

e& completed the acquisition of a controlling stake (50% plus one economic share) in PPF Telecom’s service and infrastructure companies across Bulgaria, Hungary, Serbia and Slovakia, expanding its telecom footprint into Central and Eastern Europe. Separately, e& (via e& enterprise) completed a 100% acquisition of Turkey-based GlassHouse, a managed cloud and SAP infrastructure services provider, to deepen its enterprise cloud and managed services capabilities.

Main Street Capital Corporation provided $41.4 million in a debt and equity investment to support a minority recapitalization of Connect Telecommunications Solutions Inc., a Kitchener, Ontario-based value-added distributor of fiber management solutions. Main Street and an unnamed co-investor partnered with the company’s founders to complete the transaction, enabling liquidity and capital to support the business.

Allstate Protection Plans, the device-protection division of Allstate Corporation, has acquired Kingfisher, a privately held company that optimizes the lifecycle of smart devices (repair, replace, trade-in, upgrade). The deal brings Kingfisher’s mobile circular-economy capabilities and team into Allstate’s device protection business to expand product offerings for mobile carriers, manufacturers, retailers and consumers.

Vocus, together with shareholders Macquarie Asset Management and Aware Super, agreed to acquire TPG Telecom's Enterprise, Government and Wholesale (EG&W) fixed business and associated fibre and submarine cable assets for A$5.25 billion. The deal creates a scaled digital infrastructure operator in Australia with expanded fibre and subsea assets and includes a long-term strategic partnership giving TPG ongoing access to Vocus' fibre network; completion is subject to regulatory approvals.

Vecima Networks, through its subsidiary Vecima Technology B.V., has acquired all outstanding shares, technology, IP and talent of Poland-based Falcon V Systems. The acquisition integrates Falcon V's Principal Core and Test Suite into Vecima's Entra Cloud broadband access portfolio, expanding Vecima's R&D footprint in Europe and accelerating deployments with customers such as Charter Communications.

Greek maritime satcom provider Orbyt Global has purchased OTE Group’s 94.09% stake in OTESAT-Maritel. Financial terms were not disclosed; the deal will combine OTESAT-Maritel’s s@tgate platform and expertise with Orbyt Global’s Nexus Shark III platform to expand and upgrade maritime satellite communications and digital services.

Oscium has acquired MetaGeek to combine MetaGeek’s Wi‑Fi analysis software (InSSIDer, Wi‑Spy, Chanalyzer) with Oscium’s wireless test hardware. The deal brings MetaGeek co‑founder Brian Tuttle back to lead software development and aims to deliver integrated hardware‑software wireless troubleshooting solutions.

Alares, a Grain Management‑backed telecommunications operator headquartered in São Paulo, has completed the acquisition of Azza Telecom, expanding Alares' presence across the state of São Paulo and adding Azza's ~132,000 subscribers and ~630 employees. The deal makes Alares one of the largest ISPs in Brazil and the fourth largest in the state of São Paulo; integration will focus on network, systems, stores and accelerating B2B offerings.

Qatar Investment Authority (QIA) announced plans to combine the telecommunications businesses of Qatar National Broadband Network (QNBN) and Gulf Bridge International (GBI) to create a carrier‑neutral digital and AI infrastructure leader. The integration will join QNBN's nationwide passive fiber network with GBI's international submarine and terrestrial cables to boost Qatar's international connectivity, attract hyperscalers and support the country's digitalization strategy.

EarthLink has acquired Nextera Communications, a Minnesota-based provider of fixed wireless, voice, and data solutions, to expand its business internet and fixed wireless footprint in the Midwest. The deal brings Nextera's employees, services, and customers into EarthLink Business and is effective immediately; financial terms were not disclosed.

Davenforth, a joint family office, acquired TeleCloud (Frisco, TX) and Third Generation (Bridgeville, PA) to launch a Managed IT, Voice, and Networking platform. The two acquisitions create a combined platform that will service roughly 21,500 users across 900 businesses, with both companies retaining their existing leadership teams.

An affiliate of Balmoral Funds LLC acquired Sensata Technologies' Insights business unit and rebranded it as Xirgo Technologies, establishing the unit as an independent IoT and telematics company. Balmoral will invest in R&D and market expansion while appointing IoT veteran Chris Wolfe as CEO to drive growth in IoT and AI video markets; Xirgo supports over 900 channel partners and deploys more than 1.6 million devices per year.

Gogo Inc. has agreed to acquire Satcom Direct for $375 million in cash plus five million shares of Gogo stock, with up to $225 million of additional earnout consideration tied to performance thresholds. The deal creates a multi-orbit, multi-band in-flight connectivity provider, expanding Gogo's global business aviation footprint and adding Satcom Direct's military/government capabilities and international sales/service presence.

CIBL, Inc. (OTC Pink: CIBY) closed on the acquisition of a 20% interest in Brick Skirt Holdings, Inc. from LICT Corporation in exchange for 750 common shares. Brick Skirt, through its subsidiaries, provides broadband and communications services to portions of western New York, and CIBL said its board continues to evaluate strategic alternatives to create shareholder value.

Sound Growth Partners, with capital from Everside Capital Partners, completed a majority recapitalization of Sunny Communications, LLC, a Lakewood, Colorado-based provider of refurbished land mobile radio equipment, repair services, and rentals. The transaction provides liquidity to founders Dave and Tracy Sungelo while supporting Sunny's continued growth as a key supplier to first responders and municipalities.

Mobile Communications America, Inc. (MCA) has acquired Illinois Cooperative Association, Inc., which does business as Clear Talk, a Motorola-authorized two-way radio dealer headquartered in Decatur, Illinois. The acquisition expands MCA’s Midwest footprint and adds Clear Talk’s Motorola credentials, service capabilities and local customer base to MCA’s national network.

M/C Partners, with participation from Author Capital Partners, led an investment to combine Chicago-based ISPs Everywhere Wireless and SilverIP under the new Zentro brand. The merged company becomes the largest MDU-focused ISP in the Midwest, serving more than 65,000 residential and business subscribers across Chicago and Milwaukee and positioning the business for further geographic expansion and roll-up activity.

Verizon Communications Inc. agreed to acquire Frontier Communications Parent, Inc. in an all-cash transaction valued at approximately $20 billion. The deal will expand Verizon's fiber footprint by adding Frontier's nationwide fiber network and 2.2 million fiber subscribers, enhancing Verizon's ability to deliver broadband, mobility and intelligent-edge services across more U.S. markets.

Trasna Holdings, an Ireland-headquartered IoT and semiconductor technology company, has acquired Workz, a Dubai-based pioneer in cloud-based eSIM and SIM solutions. The acquisition expands Trasna's end-to-end mobile IoT capabilities—adding eSIM management, OTA services and SIM manufacturing expertise—and positions the combined group to capitalise on growing demand for eSIM/iSIM-enabled devices.

Network Innovations has acquired Infosat Communications, a satellite services business formerly owned by Telesat Corporation, with the first closing of the sale occurring on September 1, 2024. The acquisition adds Infosat’s remote connectivity expertise (including maritime and enterprise services) to Network Innovations’ global technology integration capabilities and will be closed in phases pending regulatory approvals.

C3 Complete, a Delray Beach-based provider of technology, telecom, and information security services, has acquired TRACI.net, a Deerfield Beach communications services provider and Hosted VoIP/ISP operator. The deal expands C3's voice, Hosted PBX and SD‑WAN capabilities, broadens its channel presence, and brings TRACI.net's employees and customers into C3's service ecosystem.

Koch Equity Development LLC (KED), the investment arm of Koch, Inc., has agreed to acquire iconectiv, LLC, a telecommunications solutions and numbering administration provider, from Ericsson and affiliates of Francisco Partners. iconectiv will operate as a wholly owned independent subsidiary based in Bridgewater, New Jersey, with the deal expected to close in Q1 2025 subject to regulatory approvals.

ScanSource, Inc. has acquired Advantix (Advantix Solutions Group), a Texas-based reseller-focused managed connectivity and telecom lifecycle management provider, for an undisclosed sum. The deal supports ScanSource's launch of an Integrated Solutions and Services group to combine connectivity with hardware, software and services and help hardware VARs add recurring revenue and deeper end-user relationships.

Waterland Private Equity has agreed to acquire Lebara Group B.V., a leading European Mobile Virtual Network Operator serving over four million customers, in a buyout from existing owners Alchemy and Triton Partners. The acquisition positions Waterland to support Lebara's growth and expansion across its five core European markets, subject to regulatory approvals.

EQT Infrastructure VI has entered exclusive negotiations to acquire an 80% majority stake in Eutelsat Group’s Satellite Ground Station Infrastructure Business, in a transaction that values the carved-out entity at an enterprise value of EUR 790 million. Eutelsat will retain a 20% stake and remain an anchor tenant and partner; EQT intends to invest in antenna infrastructure and pursue M&A-driven growth to build a leading independent ground station operator headquartered in France.

Macquarie Asset Management, via the listed Macquarie Korea Infrastructure Fund (MKIF), has agreed to acquire the Hanam Data Centre (Hanam IDC) in the Greater Seoul Area. The agreed sale price is KRW734 billion (≈US$530m), with a total transaction size of KRW918 billion (≈US$663m) including transaction costs and remaining MEP works; LG CNS has pre-leased the entire facility and committed to ~99% of the target IT load.

Patton, LLC has acquired Artel Video Systems, a U.S. manufacturer of real-time multimedia delivery and IP-over-fiber video transport solutions. The purchase expands Patton's fiber- and IP-based audio/video transport portfolio, adds Artel's R&D, manufacturing and IP capabilities, and strengthens Patton's offerings to telecom, broadcast and defense customers.

Dallas-based 46 Labs LLC acquired wholesale voice carrier Impact Telecom from Lingo to expand its global carrier network and modernize legacy connectivity infrastructure. The purchase—46 Labs' second carrier network acquisition in three months—adds Impact Telecom's international network and over 300 carrier connections to bolster 46 Labs' global offering.