Monday, January 30, 2023

NOVA Infrastructure Acquires Xchange Telecom / Skywire Networks

Must read


NEW YORK–()–NOVA Infrastructure (“NOVA”), a middle-market infrastructure funding agency, as we speak introduced that it has acquired Xchange Telecom (“Xchange”), an organization that delivers high-speed web, voice, and unified communication companies to residents and companies in Brooklyn, Queens, Manhattan and the Bronx, in addition to communities in upstate New York and New Jersey. NOVA first invested in Xchange in September 2021.

We see super potential within the high-speed broadband Xchange gives New Yorkers, particularly these underserved companies and residents in older buildings and tougher to entry areas,” commented Chris Beall, Founder and Managing Associate of NOVA Infrastructure. “The communications sector is certainly one of NOVA’s funding targets and Xchange is a robust addition to our portfolio on this space. We sit up for working with the Xchange staff to assist the corporate develop and obtain new ranges of success.”

Xchange was based in 2002 to handle New York Metropolis’s ongoing downside of an absence of high quality high-speed web and voice companies in lots of its residential and industrial buildings in Brooklyn, Queens and the Bronx, which the corporate refers to as “digital deserts.” At this time, Xchange and its industrial enterprise, Skywire, present broadband in New York Metropolis, upstate New York, and New Jersey to greater than 2,000 lit buildings, 50 neighborhood hubs and relays, and a near-net footprint exceeding 350,000 buildings.

We’re excited in regards to the alternatives for development this acquisition presents for the corporate,” stated Rudy Morando, CEO of Xchange. “NOVA has a wonderful status of collaborating with and supporting its portfolio corporations to offer capital, relationship administration, and operations experience to assist them attain their fullest potential.”

In July 2022, NOVA introduced the shut of its $565 million infrastructure Fund I, which attracted commitments from a various group of main North American and international institutional buyers together with private and non-private pension funds, insurance coverage corporations, household places of work and asset managers.

About NOVA Infrastructure

Based in 2017, NOVA Infrastructure (http://www.novainfra.com) is a value-added, center market infrastructure funding agency centered on North America. NOVA seeks to make investments which pair the draw back safety options of the infrastructure asset class with operationally centered, value-added upside methods. NOVA targets investments in environmental companies, transportation, vitality / vitality transition, and communication sectors, with a present portfolio of six platform investments together with: a vertically built-in waste administration platform; a US Flag maritime logistics enterprise; a hard and fast base operator (FBO) platform; a port-centric storage and logistics platform; and fiber-to-the-home and glued wi-fi companies.

About Xchange Telecom

Based in 2002 and primarily based in New York Metropolis, Xchange Telecom is a number one telecommunication supplier within the space. Xchange gives gigabit information, voice, and unified communications options from residential to giant enterprise prospects. Xchange has a specialised hybrid telecommunications community that leverages fastened wi-fi and fiber broadband amenities all through its footprint to deliver vital bandwidth and dependable communications options to its prospects.

Xchange’s in depth broadband community consists of greater than 2,000 lit buildings, 50 neighborhood hubs and relays, and a near-net footprint exceeding 350,000 buildings. Xchange addresses the continuing downside of poor fiber density in New York Metropolis and brings excessive pace web and voice and native customer support to underserved communities and companies in New York Metropolis, upstate New York, and New Jersey.



Supply hyperlink

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article