Cincinnati Bell Inc. announced the completion of its acquisition by Macquarie Infrastructure Partners V (MIP), an Americas-focused unlisted infrastructure fund managed by Macquarie Asset Management (MAM). The $2.9 billion transaction will accelerate Cincinnati Bell’s fiber build across its operating footprint and support strategic investments in the company’s IT services businesses throughout North America.
Leigh Fox, president and CEO of Cincinnati Bell, said the closing marks the beginning of an exciting new chapter in the company’s nearly 150-year history.
“Our partnership with MIP is tremendous news for Cincinnati Bell’s 4,700 employees, our customers, and the communities we serve,” Fox said. “MIP has deep telecommunications expertise and a strong track record of investing in capital intensive businesses, which will be critical as we deliver on our strategy to drive next generation, integrated communications through an expanded fiber network as well as our IT services platform.”
Anton Moldan, senior managing director with MAM, said Cincinnati Bell’s expansion plans will play an essential role in building digital equity within its service territories.
Cincinnati Bell and Hawaiian Telcom are committed to creating digital equity through ongoing investments in fiber, a future-proof technology that enables gigabit Internet. The two companies cover 60 percent of Greater Cincinnati, and 40 percent of Hawaii, with fiber-to-the-premise technology, making those regions among the most fiber-dense metropolitan areas in the United States.
Cincinnati Bell’s partnership with MIP will allow the company to expand the fiber network at an accelerated pace over the next three years and make high-speed internet available throughout its operating territories. The company also will continue its commitment to innovation.
During the past four years, Cincinnati Bell’s IT services businesses has grown from a regional IT provider into an international organization that supports customers globally, with offices located throughout the United States, Canada, India, and Europe
