Mobile-based Southern Light has enjoyed quite a bit of success since it was founded nearly 20 years ago. And it appears that hard work has paid off, to the tune of $700 million.
Southern Light has agreed to a deal to be acquired by Uniti Group.
Andy Newton started Southern Light in 1998 and has since expanded into Florida, Georgia, Mississippi and Louisiana with more than 600 customers. They provide fiber networks and high-speed bandwidth to companies.
“This is a great story for Mobile. This is a growth story,” said Newton. “We’ll have more reach and be able to provide a few more products to our customers that we haven’t been able to provide in the past.”
Newton says operationally little will change in the company, he’s even staying on board, and he says he doesn’t anticipate any local employees losing their jobs from the acquisition.
The deal is under contract, but it still needs regulatory approval before being finalized. They expect that to be in the next three to four months.