M&A Deal Summary

Spirit Communications Acquires PalmettoNet

On August 2, 2011, Spirit Communications acquired technology hardware company PalmettoNet

Acquisition Highlights
  • This is Spirit Communications’ 1st transaction in the Technology Hardware sector.
  • This is Spirit Communications’ 1st transaction in the United States.
  • This is Spirit Communications’ 1st transaction in South Carolina.

M&A Deal Summary

Date 2011-08-02
Target PalmettoNet
Sector Technology Hardware
Buyer(s) Spirit Communications
Deal Type Add-on Acquisition

Target

PalmettoNet

Columbia, South Carolina, United States
PalmettoNet, Inc. operates fiber-optic networks in the across South Carolina.

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Buyer(S) 1

Buyer

Spirit Communications

Columbia, South Carolina, United States

Category Company
Founded 1985
Sector Communications
DESCRIPTION

Spirit Communications, Inc. is a pure-play provider of fiber based data and broadband services to enterprises, governments, and wireless carriers in the Carolinas and Georgia. The company’s network is comprised of over 9,000 miles of fiber and serves thousands of customers across 17 metro markets. Spirit’s fiber is directly connected to over 2,400 buildings as well as over 2,500 cell sites.


DEAL STATS #
Overall 1 of 3
Sector (Technology Hardware) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (South Carolina) 1 of 2
Country (United States) 1 of 2
Year (2011) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-23 SCANA Communications

Columbia,, South Carolina, United States

SCANA Communications owns, develops and operates long haul and metro fiber optics networks in South Carolina and North Carolina. SCI provides data transport services, bandwidth, tower site construction, management and rental services for wireless carriers, enterprise, government and communications service providers.

Buy $150M