Fastwyre expands into Alabama with Moundville acquisition

Fastwyre, the operator formerly known as American Broadband, inked a deal to buy central Alabama ISP Moundville Communications for an undisclosed sum, in a move which will see it expand into its sixth state.

Owned by private equity firms Madison Dearborn Partners and Catania ABC Partners, Fastwyre currently operates in Alaska, Louisiana, Missouri, Nebraska and Texas. CSO Jim Patterson told Fierce in September 2021 it had around 60,000 passings and was aiming to grow to multiples of that number through a combination of expansion and acquisition activity. It rebranded as Fastwyre in August of this year.

According to BroadbandNow, Moundville Communications provides DSL and fiber internet service to an estimated 6,000 people in markets just south of the city of Tuscaloosa. Its fiber offering is available to about 2,000 people, BroadbandNow’s data showed. The operator’s website indicated it offers four service tiers, ranging from 25 Mbps for $47 per month to 250 Mbps for $87 per month.

Moundville CEO Scott Taylor said in a statement “the sale to Fastwyre represents a tremendous opportunity for Moundville Communications to evolve into a regional fiber-based broadband provider.”

Fastwyre chief Chris Eldredge added the deal “provides Fastwyre with immediate access to an attractive market in Central Alabama while also providing a road for further expansion of high-quality, reliable broadband services into new Alabama communities.”

The transaction is expected to close in Q4 2022.

Its move to scoop up Moundville follows Fastwyre’s acquisition of Nebraska-based BNT Broadband’s fiber assets in late 2021. Jason Nicolay, Fastwyre’s SVP of Corporate Development, noted it will “continue seeking new acquisition opportunities throughout Alabama and the rest of the U.S.”

Fastwyre isn’t the only one with its eye on Alabama. Brightspeed has announced plans to cover 120,000 locations in Alabama with fiber over the next five years, including 60,000 by the end of 2023. And the likes of AT&T, Charter, Comcast, C Spire, Mediacom, Cable One’s Sparklight brand, TDS Telecom and Windstream have all announced plans to apply for grant money to fuel rural expansions in the state.