US Signal Completes Acquisition of OneNeck
Rhea-AI Summary
US Signal, a digital infrastructure provider, has completed its acquisition of OneNeck IT Solutions from Telephone and Data Systems, Inc. (NYSE: TDS). This strategic move significantly expands US Signal's capabilities and reach:
- Increases data centers from 10 to 16, quadrupling square footage
- Extends footprint to the West Coast (Phoenix, Denver, Bend)
- Adds Madison, Minneapolis, and Des Moines markets to fiber network
- More than triples commercial power under management
OneNeck serves over 1,000 customers across 45 states in various sectors. The combined entity aims to enhance client service excellence and provide more capabilities to meet evolving customer needs.
Positive
- Acquisition expands US Signal's data center footprint from 10 to 16 locations
- Quadruples square footage of data center space
- Extends US Signal's presence to the West Coast
- Adds three new markets to US Signal's fiber network
- More than triples commercial power under management
- Gains access to OneNeck's diverse customer base across 45 states
Negative
- None.
News Market Reaction – TDS
On the day this news was published, TDS gained 4.32%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Headquartered in
The acquisition:
- Increases the number of US Signal data centers from 10 to 16, quadrupling square footage
- Extends US Signal's footprint to the West Coast with the addition of
Phoenix, Arizona ;Denver, Colorado ; andBend, Oregon data centers - Adds OneNeck's
Madison, Wisconsin ;Minneapolis, Minnesota ; andDes Moines, Iowa markets to US Signal's fiber network, and - More than triples commercial power under management
"We welcome our new colleagues to the US Signal team," said Daniel Watts, CEO. "Together, we will provide customers with more capabilities to serve their evolving needs while maintaining our combined culture of client service excellence."
US Signal was advised by the law firm of Mayer Brown. Its financial advisor was DC Advisory, and Texas Capital Securities served as the Exclusive Placement Agent.
About US Signal
US Signal, founded in 2001, is a leading digital infrastructure provider, offering connectivity, cloud hosting, colocation, data protection, and disaster recovery services powered by its wholly owned and operated robust fiber network. US Signal also helps customers optimize their IT resources through the provision of managed and professional services. For more information, visit www.ussignal.com.
About Igneo Infrastructure Partners
Igneo is an autonomous investment team in the First Sentier Investors Group. It invests in high-quality, mature, mid-market infrastructure companies in renewables, digital infrastructure, waste management, water utilities and transportation/logistics sectors in
Media inquiries
BNO:
Sheri Wachenheim
E: swachenheim@bnoinc.com
T: +1 973-670-5413
Newton Park PR:
Margaret Kirch Cohen
E: margaret@newtonparkpr.com
T: +1 847-507-2229
Important information
This press release is intended for information only, aimed solely at the media and should not be further distributed to individual and/or corporate investors, and financial advisers and/or distributors. The information included within this document and any supplemental documentation provided should not be copied, reproduced or redistributed without the prior written consent of US Signal.
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SOURCE US Signal
FAQ
What companies are involved in the acquisition announced on September 3, 2024?
How many data centers does US Signal now have after the acquisition?
What new geographical areas does US Signal gain from the OneNeck acquisition?
How does the acquisition affect US Signal's commercial power management?
What is the impact of the acquisition on US Signal's data center square footage?
