Brookfield Infrastructure Partners plans to buy Internet service provider Hotwire Communications in a deal worth around $7 billion, including debt.
The company is set to take the ISP over from Blackstone, which owned the ISP through its Infrastructure Partners and Tactical Opportunities funds. Both Reuters and the Wall Street Journal first reported the news.
Hotwire's network operates in Florida, Georgia, Texas, Arizona, Nevada, South Carolina, North Carolina, Pennsylvania, and California.
The company, which markets services under the Fision Fiber brand, was acquired by Blackstone in 2021 for an undisclosed sum. Blackstone invested an additional $1bn in expanding its services.
Earlier this year, TMT Finance reported that T-Mobile had teamed up with KKR to bid for the company.
The deal is but one of a growing digital infrastructure portfolio play by Brookfield. The company is also backing fiber-to-the-premises business Intrepid Fiber Networks, and French telco tower company TDF.
On the data center side, the company owns significant stakes in QTS, Data4, Centersquare, and Ascenty (although it may sell that latter investment).
The company claims to have investments in 163,100 operational telecom towers, 22,000km of fiber optic cable, and 140 data centers.
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