Everstream, a business-only fiber network, has entered a stalking horse agreement to sell most operations to Bluebird Fiber amid Chapter 11 bankruptcy proceedings. This strategic move, backed by $55 million in debtor-in-possession financing, is aimed at facilitating a smooth transition while ensuring ongoing operations. Everstream's CEO emphasized this sale as crucial for meeting evolving connectivity needs and for future investments in core markets. Bluebird Fiber is positioned to leverage this acquisition to enhance its business-focused connectivity services, continuing its recent growth trajectory.
"As we focus on advancing our core market optimization strategy, we have determined that a sale of our business is the best path to ensure Everstream meets the evolving connectivity needs of the businesses we serve for years to come."
"Under new ownership, we can continue to invest responsibly across our core markets for the benefit of our valued customers, employees, and other stakeholders."
Collection
[
|
...
]