The deal to make a structured equity investment in SwyftFiber was announced last week by Macquarie Asset Management (MAM), an infrastructure manager. SwyftFiber may be more familiar to readers as CableSouth.
Macquarie to Invest in SwyftFiber and CableSouth
SwyftFiber is a service provider operating in Louisiana, Arkansas, and Mississippi. Established in 2008, CableSouth Media III (also known as SwyftFiber and SwyftConnect) offers internet, cable, and streaming video services, as well as connected VoIP, to regions of these states.
Expanding internet availability in unserved or underserved communities is SwyftFiber’s long-term goal.
SwyftFiber can already achieve this through funds obtained via the Rural Digital Opportunity Fund (RDOF) auction and programmes like the GUMBO grant in Louisiana, funded by $176.7 million granted to the state by the Capital Projects Fund.
According to the statement, SwyftFiber has made substantial progress in quickly expanding its broadband infrastructure, and the management team has years of collective experience in building and operating broadband companies.
Moreover, SwyftFiber has forged solid alliances with local and national government agencies and has been selected to enhance broadband accessibility through the Federal Communications Commission’s Rural Digital Opportunity Fund (RDOF) programme and the Louisiana GUMBO grant programme.
According to MAM, the planned investments should enable SwyftFiber to accelerate the development of fibre infrastructure in current and new markets, supporting the company’s expansion and helping communities across the Gulf area.
The investment in structured equity is subject to regulatory approvals. The planned closing date, the size of the investment, or the stake were not disclosed. Still, it is said to fund future fibre build-outs that will help underprivileged communities overcome the digital divide.
According to a press release, CEO and co-founder of SwyftFiber Jason Hunt stated, “I’m very proud to announce this new partnership with Macquarie Asset Management.”
He continued, “MAM has a highly respected track record in bringing fibre connectivity to underserved geographies and is aligned with our mission of providing high-speed internet to communities that have historically lacked investment in high-quality connectivity.”
Cincinnati Bell was acquired by Macquarie Infrastructure Partners VI, a fund run by Macquarie Asset Management, for $2.9 billion in September 2021.
Macquarie Infrastructure Partners acquired Bluebird Network in September 2019. At the time, Bluebird Network announced that its Illinois network would get a 2,500 fibre route mile extension.
Rockford, Peoria, Bloomington, Normal, and the Quad Cities were to be included in the expansion, with further cities to be included later. There were plans to expand the underground data centre in Springfield, Missouri.
In the telecom industry, this is not Macquarie’s first investment.
Subscribe to Email Updates :