The combined network will bolster redIT’s ability to transport high capacity data using Flō’s unique and diverse routes to and from the United States, Mexico, and the rest of the Americas.
El Paso, Texas – Flō Networks (formerly known as Transtelco), a leading provider of digital infrastructure solutions, announced today that on March 29th, 2023, it completed the acquisition of American Tower’s Mexico Fiber business, ATC Holding Fibra México, S. de R.L. de C.V., (known commercially as redIT) and its high-capacity fiber optic network, which maintains a dense presence in over 40 cities throughout Mexico.
“We are thrilled to announce the completion of the acquisition of ATC Holding Fibra México,” said Miguel Fernandez, Chief Executive Officer of Flō Networks. “The combination of these two unique and complementary networks will enable redIT’s dense metro footprints throughout Mexico to leverage Flō’s diverse long-haul and metro networks, providing reliable and redundant routes to transport mission-critical data back to the United States and beyond. I could not be more proud of our team and how they efficiently executed through a challenging market backdrop. We’d also like to thank the American Tower team for their leadership and partnership that culminated in a successful outcome for both parties.”
Mr. Fernandez added, “This is Flō’s 3rd transformational acquisition in three years and cements our status as the preeminent high-growth consolidator of digital infrastructure businesses in the region. With our proven track-record and leadership, we are confident of our ability to integrate and scale our operations and provide even more resilient and complex solutions to our valued customers, while creating value for our shareholders.”
Flō Networks maintains one of the most unique, scalable, and low-latency networks in the region. This enhances the company’s capabilities, enabling it to better serve its corporate customers with high-quality and cost-effective solutions.
The combined company will have over 20,000 miles of fiber throughout the United States and Mexico that will connect nearly 10,000 enterprise buildings.
For the financing of the transaction, Deutsche Bank served as the Mandated Lead Arranger and Lead Underwriter, AllianceBernstein served as Underwriter and Arranger and MUFG and Texas Capital Bank served as Underwriters.
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About Flō Networks
Founded as Transtelco in 2001, Flō Networks is a leading digital infrastructure service provider connecting companies on both sides of the U.S.-Mexico border and across the Americas. The Company provides managed data and voice services to Fortune 500, telecommunications and cable companies over a fiber optic network spanning over 20,000 route miles between the U.S. and Mexico and connects fifteen countries across the Americas. For more information, visit flo.net.
