Fatbeam, a provider of fiber-based wide area networks to rural and mid-sized markets in the western US, has announced new financing and the purchase of the IP Connect division of Ednetics, a longstanding strategic partner of Fatbeam that offers technology solutions to the educational and public-sector markets, the company said.
With this transaction, backed by new financing from Bank Street and Post Road Group, Fatbeam will acquire a base of customers in Idaho, Oregon and Washington State, as well as a core broadband Internet service offering that the company will integrate and offer across its entire footprint.
With new financing from Bank Street and Post Road Group, Fatbeam is well positioned to accelerate growth through further strategic acquisitions. The company is already planning to leverage its widened customer base and enhanced product offering to make further investments, bolstering its current fiber optic networks.
The purchase of IP Connect from Ednetics follows Fatbeam´s recent expansion into Arizona and Nevada with its recent E-Rate contract wins that will allow the company to enlarge its addressable market opportunity significantly. With two strategic moves in the second quarter of 2018, the company is now set to focus on organic growth and enriched sales opportunities over the next several months.
Fatbeam is the industry provider of the western US in delivering fiber infrastructure for best-in-class connectivity to schools, businesses, healthcare and governments in rural and mid-sized communities. The company operates networks in over 35 markets spanning Idaho, Montana, Washington, Oregon and Wyoming, and is expanding into Arizona, Nevada and New Mexico. For more information, visit: www.fatbeam.com.