Greenlight Networks announced their intention to acquire Loop Internet, a locally-owned and operated fiber internet provider headquartered in Scranton, Pennsylvania, for an undisclosed price. The transaction is expected to close later this year, pending regulatory approval.
Greenlight Networks had announced its expansion into northeast and south central Pennsylvania in the spring. The company said that the acquisition of Loop Internet will significantly expand the Greenlight presence in the Wilkes-Barre/Scranton area and accelerate the deployment of its fiber network there.
Greenlight said it plans to leverage Loop’s local expertise and infrastructure with capital investments in the region. The company expects to announce local hiring initiatives, additional partnerships with local businesses and contractors, and enhanced community engagement efforts.
“We are thrilled at the prospect of welcoming Loop Internet, their associates, and customers to Greenlight Networks,” said Mark Murphy, Greenlight Networks’ CEO, in a prepared statement.
“Loop’s existing network footprint complements our current and planned service areas, and will provide a critical base of operations, in addition to key personnel and resources in the Scranton area. By joining forces, we can move faster into new markets, operate more efficiently, and deliver an exceptional customer experience to even more consumers.”
The announcement comes only a month after Greenlight Networks unveiled plans for a $100 million investment in fiber infrastructure in Baltimore, Maryland, to begin serving customers in September.
Greenlight plans to initially begin serving the Mt. Washington, Roland Park, Belair Frankford Hamilton Hills, Arcadia Glenham, and Hampden neighborhoods. Other Baltimore neighborhoods will be announced later.
Greenlight Networks wants to become a fixture in Baltimore and says that it is seeking a permanent office location in the city to serve as its regional hub. It also says that it will hire locally for construction crews, network and installation technicians, and community outreach representatives.
Meanwhile, before the announcement of their acquisition by Greenlight Networks, Loop Internet recently discussed how new Internet Connection Redundancy (ICR) system aims to help companies avoid fiber outages.
