Uniti Group Inc. to Acquire Southern Light
Leading data transport provider across 5 states and 12 Southeast markets
Expansive fiber network spanning over 540,000 fiber strand miles
Uniti’s revenue diversification advances over key milestone to 30% away from Windstream
Substantial synergies expected with Uniti Fiber and recently announced Hunt Telecom acquisition
“This acquisition transforms Uniti Fiber into a more competitive provider of fiber infrastructure solutions. Southern Light scales our products and capacity with wireless carriers, enterprise, wholesale, and E-Rate customers across a significantly expanded Uniti Fiber network, and launches us into the important military sector,” said
Mr. Gunderman continued, “Southern Light’s revenues are well diversified, with 50% from national wireless carriers, 30% from wholesale and enterprises, and 14% from government and E-Rate customers. Pro-forma for this transaction and our recently announced acquisition of
Southern Light is a leading provider of data transport services along the
Pro forma for both Southern Light and Hunt, Uniti Fiber’s revenues under contract will exceed
Southern Light’s organization and operations are highly complementary to Hunt and both will be tightly integrated into Uniti Fiber. The Company expects to achieve annual run-rate cost savings related to its acquisition of Southern Light of
TRANSACTION TERMS AND APPROVALS
Aggregate consideration for this transaction will be
The Company has received committed financing from
This press release does not constitute an offer to sell or the solicitation of any offer to buy securities.
Uniti will hold a conference call today to discuss the terms of this transaction at
Uniti, an internally managed real estate investment trust, is engaged in the acquisition and construction of mission critical communications infrastructure, and is a leading provider of wireless infrastructure solutions for the communications industry. As of
Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended from time to time. Those forward-looking statements include all statements that are not historical statements of fact including, without limitation, those regarding our business strategies, growth prospects, industry trends, sales opportunities, operating and financial performance and the anticipated benefits of closing of the Southern Light and Hunt transactions.
Words such as "anticipate(s)," "expect(s)," "intend(s)," “estimate(s),” “foresee(s),” "plan(s)," "believe(s)," "may," "will," "would," "could," "should," "seek(s)" and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained. Factors which could materially alter our expectations include, but are not limited to, the possibility that the terms of the Southern Light or Hunt transactions as described in this press release are modified; the risk that the Southern Light or Hunt transaction agreements may be terminated prior to expiration; risks related to satisfying the conditions to the transactions, including timing (including possible delays) and receipt of regulatory approvals from various governmental entities (including any conditions, limitations or restrictions placed on these approvals) and the risk that one or more governmental entities may deny approval; and the risk that we may be unable to properly integrate Southern Light or Hunt or achieve anticipated benefits and/or synergies.
Uniti expressly disclaims any obligation to release publicly any updates or revisions to any of the forward-looking statements set forth in this press release to reflect any change in its expectations or any change in events, conditions or circumstances on which any statement is based.
Unaudited results for Southern Light and Hunt are preliminary and subject to audit and purchase accounting adjustments. Actual results could differ materially. Investors should not place undue reliance on such numbers. Operating metrics have been provided by Southern Light and Hunt without verification and investors should not place undue reliance on those operating metrics.
INVESTOR and MEDIA CONTACTS:
Mark A. Wallace, 501-850-0866 EVP, Chief Financial Officer & Treasurer firstname.lastname@example.org Jim Volk, 501-850-0872 VP, Finance & Investor Relations email@example.com