Shenandoah Telecommunications Company (Shentel) has agreed to buy commercial fiber provider Horizon Acquisition Parent LLC (Horizon Telcom) for $385 million.

Horizon provides fiber in Ohio and adjacent states, and serves national wireless providers, carriers, and organizations.

The company boasts a 7,200 route-mile fiber network across the state. Approximately 64 percent of Horizon’s revenues are derived from their commercial customers.

Horizon was founded in 1895 in Chillicothe, Ohio, as the incumbent local exchange carrier (ILEC) in Ross County, Ohio.

Shentel president and CEO, Christopher E. French said: "We now expect to pass 150,000 additional homes with fiber in greenfield markets, targeting 600,000 total passings by the end of 2026.”

Horizon has stepped up its Fiber-to-the-Home (FTTH) push recently, and currently passes 14,000 homes and businesses with fiber in its ILEC market and 18,000 homes in new, greenfield markets adjacent to its commercial fiber network.

Last year, Horizon generated $64.7m in revenues, $12m in net loss, and $19m in Horizon Adjusted EBITDA.

Shentel is buying Horizon with $305m in cash and $80m of Shentel common stock.