Archtop Fiber says it has agreed to a stock purchase agreement with fellow Northeast U.S. broadband services provider GTel for an undisclosed sum.
The sale is expected to close next year, subject to customer conditions, and will position Archtop Fiber to provide services in more than five townships in New York's southern Columbia County.
Based in Germantown, NY, and active since 1905, GTel provides triple-play services in such communities as Clermont, Linlithgo, Livingston, and Taghkanic as well as its home town.
The family-owned company recently expanded its network to cover over 5,000 locations, almost tripling its legacy footprint, thanks to three grants from the New NY Broadband Program.
As a result, its broadband network now includes more than 300 miles of fiber-optic cable.
Bruce Bohnsack, president of GTel, commented:
“Archtop Fiber could not be a more perfect choice to carry on the legacy of GTel. After 95 years of dedicated service, we are pleased to pass the torch to the Archtop team who will expand the reach of best-in-class internet and voice services to our communities, especially as the need for innovation and jobs continues to grow at an accelerated pace. From a small business with just two telephone lines in 1905 to a leading, fiber-first internet, video, and voice service provider today, the four generations of Bohnsack family management – coupled with experienced local staff – have grown this company from the ground up, which truly has been a labor of love. Now it’s time for a new chapter. Our family, the GTel staff and the communities served can’t wait to see what happens next with the telecom experts at Archtop leading the way. The future is truly bright for the region.”
Jeff DeMond, founder and CEO of Archtop Fiber, said:
“We are honored GTel has entrusted us to continue the remarkable legacy it has established over nearly a century. Just like GTel, we are committed to innovation and building a brighter future for our neighbors in southern Columbia County and beyond. We have a deep-rooted relationship with GTel and are proud to keep the company’s momentum going. We will leverage our knowledge and experience to expand digital growth and bring even more jobs and tech-driven opportunities to this vibrant area.”
Archtop Fiber opened for business this past August in Kingston, NY, backed by a $350 million investment by Post Road Group, a digital infrastructure and real estate investment firm. The company plans to provide multigigabit, fiber-based broadband services across the U.S. Northeast.