"This transaction will allow both companies to expand more quickly and improve the services offered to Lit Fiber's customers. It is a win-win for current and future customers," Oak Hill Managing Partner Scott Baker said in the announcement.
The service provider and Oak Hill got a boost this July with $150 million in debt financing from Stonepeak Credit. The funding was to support expansion into Ohio, Michigan and Pennsylvania.
Omni Fiber made a move several months later - in early December 2022 - with the acquisition of Ohio Telecom. The company served customers in the 419 area code, which includes Toledo, Bowling Green, Sandusky, and others.
At that point, Lit Fiber customers will have access to data speeds of up to 10 Gbps as system integrations are expected to be completed early next year.
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