Segra has acquired NorthState, a provider of high-speed bandwidth services in the fast-growing Piedmont Triad region of North Carolina. With this acquisition Segra’s fiber network expands by nearly 3,000 miles and brings Segra’s industry-leading service and an enhanced product offering to NorthState’s customers.
Expanded fiber network and enhanced services
During the COVID-19 outbreak period, communication services and reliable connections became more critical than ever. With the expansion of Segra’s fiber network and operations, the company aims to meet the data, voice and connectivity needs of customers of all sizes.
Tim Biltz, chief executive officer of Segra, said,
“The Segra team will build on NorthState’s success by focusing on serving the customer first. The acquisition furthers the delivery of a robust set of products, an expanded state-of-the-art fiber network, and superior service experience to all customers throughout our expanded service area.”
According to the announcement, NorthState shareholders will receive $80.00 in cash for each share of NorthState common stock they hold. Trading of shares on the OTC Pink Market will be ended due to the completion of the transaction.
Royster Tucker who worked for a longtime as NorthState’s president and CEO said,
“I have the utmost respect for Segra’s leadership and for the exceptional reputation they have earned in our industry. As we transition our company, I have complete confidence that our customers will continue to receive outstanding service and the premium technologies they depend on in business and life.”