Archtop Fiber has finalized its acquisition of Germantown, New York-based GTel. Financial terms of the deal were not disclosed.
This is technology M&A deal number 249 that ChannelE2E and MSSP Alert have covered so far in 2023. See more than 2,000 technology M&A deals for 2023, 2022, 2021, and 2020 listed here.
Archtop Fiber, founded in 2022, is based in Kingston, New York. The company has 23 employees listed on LinkedIn. Archtop’s areas of expertise include multi-gig, symmetrical, all-fiber network technology.
GTel, founded in 1905, is based in Germantown, New York. The company has 17 employees listed on LinkedIn. GTel’s areas of expertise include Telephone, Internet, Television, Telecommunications, Fiber Broadband, and Business Services.
Archtop’s Ongoing Growth Strategy
This move is expected to extend Archtop Fiber's telecommunications services to more than five townships in southern Columbia County, according to the company.
According to a prepared statement, the acquisition of GTel is a significant step in Archtop Fiber's broader objective to enhance digital connectivity in underserved regions of New York’s Hudson Valley. Their goal is to offer 100%-fiber multi-gig Internet services in these areas.
Earlier this year, the company disclosed its plans to acquire Hancock Telephone Company, located in Hancock, New York. In May, Archtop mentioned a stock purchase agreement with Momentum Telecom, targeting the acquisition of Warwick Valley Telephone Co., another New York-based provider. Both of these potential deals are currently under regulatory review.
Archtop Acquires GTel: Executive Insight
Jeff DeMond, Chairman and CEO of Archtop Fiber, commented:
"We’re thrilled to have completed this process and officially bring GTel into the Archtop Fiber family. We can now begin to fully integrate our operations and move forward together with the GTel team. We are grateful to the Bohnsack family for entrusting the Archtop team with this tremendous asset and would like to thank Bruce Bohnsack, in particular, for his exceptional work and unwavering dedication to the community and to the industry."
