The agreement 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 than 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) provides Internet, cable and streaming video services, as well as connected VoIP, to areas of these states.
Expanding Internet availability in unserved or underserved communities is SwyftFiber’s long-term goal.
SwyftFiber can already do this thanks to funds obtained through Rural Digital Opportunity Fund (RDOF) auctions and programs like the GUMBO grant in Louisiana, funded by $176.7 million awarded to the state by the Capital Projects Fund.
According to the release, SwyftFiber has made substantial progress in rapidly expanding its broadband infrastructure, and the management team has years of collective experience building and operating broadband businesses.
Additionally, SwyftFiber has forged strong alliances with local and state government agencies and was selected to improve broadband accessibility through the Federal Communications Commission’s Rural Digital Opportunity Fund (RDOF) program and the Louisiana GUMBO grant program .
According to MAM, the planned investments are expected to enable SwyftFiber to accelerate the development of fiber optic infrastructure in current and new markets, thereby supporting the company’s expansion and helping communities in the Gulf region.
Investment in structured shares is subject to regulatory approvals. The expected closing date, investment amount or stake were not disclosed. Nonetheless, it is expected to fund future fiber optic developments that will help disadvantaged communities overcome the digital divide.
According to a press release, SwyftFiber CEO and co-founder Jason Hunt said: “I am very proud to announce this new partnership with Macquarie Asset Management. »
He continued: “MAM has a highly respected track record of bringing fiber optic connectivity to underserved geographies and aligns 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 managed 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 benefit from a 2,500-mile fiber route expansion.
Rockford, Peoria, Bloomington, Normal, and Quad Cities were to be included in the expansion, and other cities would be included later. There were plans to expand the underground data center in Springfield, Missouri.
In the telecommunications sector, this is not Macquarie’s first investment.
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