Telecom and IT services provider Cincinnati Bell Tuesday said that Macquarie Infrastructure Partners V, part of Australia-based infrastructure asset manager Macquarie Group, has finalized its $2.9 billion acquisition of the Cincinnati, Ohio-based company.
The acquisition, first unveiled in March 2020, valued Cincinnati Bell at $2.9 billion, including debt.
With the acquisition, Macquarie gets two primary assets.
The first is a partnership between Cincinnati Bell and Hawaiian Telcom that has resulted in a 60 percent market share of the fiber infrastructure of the greater Cincinnati area and 40 percent of the share in the state of Hawaii, enabling those areas with gigabit and 2-gigabit Internet service.
The second is CBTS, an international provider of IT services with offices in the U.S., Canada, India, and Europe. CBTS alone is ranked No. 40 in CRN’s Solution Provider 500 list.
CBTS’ clients include Fortune 500 enterprises, large healthcare organizations, universities, and state and local government organizations.
CTBS in 2000 entered the unified communications as a service industry, and in 2006 started its security practice. In 2008, it started its infrastructure-as-a-service practice, and eventually moved into services based around storage, networking, and WAN. The company in 2017 acquired OnX Enterprise Solutions, one of Canada’s largest IT solution providers with a major footprint in Europe and Asia.
Cincinnati Bell said the acquisition by Macquarie will give improved...
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