On Tuesday, Charlotte's Segra finalized its $240 million acquisition of NorthState, a provider of high-speed bandwidth services in the Piedmont Triad.
The acquisition, which was announced in December, expands Segra’s fiber network by nearly 3,000 miles and brings Segra’s service and an enhanced product offering to NorthState’s customers, according to a news release.
“The Segra team will build on NorthState’s success by focusing on serving the customer first,” Segra's chief executive officer Tim Blitz said in a news release. “The acquisition furthers the delivery of a robust set of products, an expanded state-of-the art fiber network, and a superior service experience to all customers throughout our expanded service area.”
As the deal closed on Tuesday, longtime NorthState President and CEO Royster Tucker III made the decision to step down.
"I have the utmost respect for Segra’s leadership and for the exceptional reputation they have earned in our industry,” he said. “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.”
