Shenandoah Telecommunications Company, or Shentel, announced Tuesday it will acquire Horizon Telcom for $385 million.
The acquisition will double the size of Shentel’s commercial fiber business.
Horizon is a leading commercial fiber provider in Ohio and adjacent states serving national wireless providers, carriers, enterprises, and government, education and healthcare customers. Horizon’s 7,200 route-mile fiber network is the largest and most dense network across its footprint with more than 9,000 on-net locations.
Approximately 64 percent of Horizon’s revenues are derived from their commercial customers.
“The acquisition of Horizon is a transformative transaction that we believe will allow us to accelerate our Fiber First strategy by doubling the size of our commercial fiber business and creating a new beachhead for our Glo Fiber business,” said Shentel’s President and CEO Christopher E. French. “We now expect to pass 150,000 additional homes with fiber in greenfield markets, targeting 600,000 total passings by the end of 2026.”
The transaction is subject to certain regulatory approvals and other customary closing conditions and is expected to close in the first half of 2024.
For more information, visit www.shentel.com.
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Crystal Graham
