Fiber – Precedent M&A Transactions (2023)

Description

Dgtl Infra provides you comprehensive details for the latest precedent sale (M&A) transactions in the fiber sector of digital infrastructure. Acquirors in this report include Zayo Group, Crown Castle, Uniti Group, GTT Communications, EQT Infrastructure, Stonepeak Infrastructure, Antin Infrastructure, Grain Management, and many more.

This analysis is comprehensive, as shown by the product image. Specifically, this document covers over 140 fiber M&A transactions from the United States, Europe, and Latin America. Indeed, this analysis comprises all key fiber M&A transactions dating back to 2015, with transaction values of greater than $100 million.

What Transaction Metrics Does Dgtl Infra Cover?

Dgtl Infra includes detail on qualitative factors. These include the acquiror name, target name, seller name, geography of the target, and announcement date of the transaction. Additionally, Dgtl Infra provides key quantitative details pertinent to analyze the transaction. Specifically, these financial metrics include transaction value, EBITDA of the target, multiple of Enterprise Value-to-EBITDA, # of fiber route miles of the target, price per mile, and replacement cost multiple.

What Types of Fiber Transactions Does Dgtl Infra Cover?

Within these precedent M&A transactions for fiber, Dgtl Infra focuses on the sub-sectors of dark fiber, enterprise fiber, subsea cables, fiber-to-the-home, broadband, and cable.

Why Is Fiber Important?

Fiber optic cables consist of bundled glass strands that transfer data signals into optical light. Importantly, fiber is what is known as the “connective tissue”. Fiber supplies connectivity and enables all of the other three types of digital infrastructure to work. Indeed, fiber provides the core connectivity for internet traffic globally. Additionally, fiber connects cellular tower sites, data centers, small cells, and last-mile customers into the broader global network.

Business-to-business fiber is split into two core segments: dark fiber and enterprise fiber (lit services). Dark fiber is the leasing of individual fiber strands to provide dedicated high-bandwidth, fixed network capacity. In this case, the customer lights the fiber themselves. Whereas enterprise fiber (lit services) is where the service provider lights the fiber and enables connectivity for the customer. Connectivity ranges from 100 Mbps of capacity to 100 Gbps of capacity.

Business-to-consumer fiber comprises fiber-to-the-home, broadband, and cable. The network technologies supporting these sub-sectors include optical fiber, hybrid fiber-coaxial (HFC), and copper.