Monday, March 10, 2014
The Associated Press
LEWISTON — A Canadian private equity firm is buying Oxford Networks, allowing the Lewiston-based Internet service provider to expand.
The Sun Journal reported that Oxford Networks will sell its stock for an undisclosed amount to Montreal-based Novacap.
Under the terms of the deal, Oxford Networks’ name will remain the same and it will keep its current management team and its office in Lewiston.
Oxford President and CEO Craig Gunderson told the newspaper the deal will help the company expand its 2-year-old data center at Brunswick Landing.
An announcement is expected next week.
The deal requires shareholder and regulatory approval.
Oxford Networks, which has 120 workers, began as a rural telephone company more than 100 years ago but has expanded its coverage area, business customers, fiber optics and IT services.