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FirstLight Fiber to Acquire Keystone Initiative for Network Based Education and Research Assets
Wednesday 16 September 2020

US-based fiber-optic data, Internet, data center, cloud and voice services provider FirstLight, serving enterprise and carrier customers throughout the Northeast and mid-Atlantic, has signed a definitive agreement to acquire substantially all of the assets, including the fiber network and related customer contracts, of the Keystone Initiative for Network Based Education and Research (KINBER), the company said.

FirstLight looks forward to seamlessly providing critical communications services to KINBER's customers. Additionally, post transaction, FirstLight will support KINBER's networking needs.

When the transaction with FirstLight is complete, KINBER will be continuing its work providing research and education connectivity, investing in underserved and unserved communities, and positioning Pennsylvania to be a leader in broadband and broadband technology.

Founded in 1999, FirstLight has been building and operating its own fiber-optic network for more than 20 years.

With an expert team, FirstLight serves the networking needs of national telecommunications providers, CLECs and enterprises, including health care organisations, high-tech manufacturing and research facilities, financial institutions, colleges and universities, K-12 schools, public safety agencies, and local and state governments.

RBC Capital Markets LLC served as financial advisor to KINBER in connection with this transaction. Morgan, Lewis and Bockius LLP served as legal counsel to FirstLight.

The transaction is expected to close in 4Q20, following the satisfaction of regulatory approvals. Financial terms of the transaction were not disclosed.
Date Published: 16/09/2020