CBRE Investment Management鈥檚 US fibre network operator WANRack has agreed to buy a Kansas-based internet provider for an undisclosed sum.
WANRack said it has entered into an agreement to acquire KwiKom Communications for a CBRE IM fund.
KwiKom builds and operates fibre optic and fixed wireless broadband networks that serve residential and business customers in Kansas, Missouri, Oklahoma and Nebraska. WANRack provides high-bandwidth, fibre-based infrastructure and related services to schools, hospitals, libraries, enterprise and carrier customers throughout the continental US.
WANRack said the two companies will continue operating under their respective brands following the acquisition.
Noi Spyratos, private infrastructure managing director at CBRE Investment Management, said: 鈥淲e鈥檙e excited to support the continued growth of our portfolio company WANRack through the acquisition of Kwikom. This transaction will not only enhance WANRack鈥檚 existing fibre footprint in Kansas but also give entry into KwiKom鈥檚 other markets and expand our service offerings to now include fibre-to-the-home capabilities.
鈥漈his is a great example of our commitment to growing our portfolio companies while also contributing to strong social outcomes given our plans to expand fibre into unserved and underserved communities. We believe with this acquisition, WANRack will be even better positioned to make a meaningful impact to reducing the 鈥榟omework gap鈥� and the 鈥榙igital divide鈥�.鈥�
Mike Brigman, WANRack鈥檚 president and COO, said: 鈥淲e are extremely excited to welcome KwiKom into the WANRack family. 鈥淜wiKom has a proven track record of stellar customer service and the capacity to expand. Their high-calibre team and impressive services portfolio align perfectly with WANRack鈥檚 vision for growth.鈥�
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