Telecommunications Acquisitions in Connecticut

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.

GE Industrial Systems has completed the acquisition of International Fiber Systems Inc. (IFS), a Newton, Connecticut-based maker of fiber optic transmission products for electronic security and intelligent transportation systems. IFS will become a subsidiary of GE Interlogix Inc., part of GE Industrial Systems; financial terms were not disclosed.

Pfingsten’s portfolio company NEC acquired Eastern Communications, LLC, a Bloomfield, Connecticut-based provider of maintenance, repair and upgrade services for telecommunications infrastructure. The deal—NEC’s third add-on since Pfingsten became majority shareholder in October 2021—closed October 31, 2022; Eastern CEO Steve Slade will retain ownership and join NEC’s executive team as the combined platform expands geographic coverage and service capabilities.

Stonecourt Capital LP has acquired 365 Data Centers, a provider of hybrid data center and edge colocation solutions, with original investors Lumerity Capital and Longboat Advisors reinvesting alongside the new partner. 365's management team, led by CEO Bob DeSantis, will remain in place as Stonecourt provides capital to accelerate organic growth and pursue near-term acquisitions.

DragonWave Inc. acquired Axerra Networks Inc. in an all-cash transaction valued at $9.5 million (debt-free), with a potential performance-based earn-out of up to $15.5 million payable over 16 months. The acquisition combines Axerra's pseudowire and mobile-backhaul products with DragonWave's packet microwave portfolio to deliver converged TDM and packet backhaul solutions and broaden DragonWave's carrier and MSO customer reach.

Boston-based private equity firm Riverside Partners has completed a majority investment in Thinklogical LLC, a Milford, Connecticut-based designer and manufacturer of high-bandwidth fiber optic KVM and video switching and extension products. The transaction was completed in partnership with Thinklogical’s five founders and management team; Riverside said it will support continued investment to scale the business and accelerate growth across defense, broadcast, medical and other end markets.