Rochester-based high-speed internet provider Greenlight Networks, LLC, whose efforts to expand its fiber-optic network are progressing slowly, is being fueled by billionaire philanthropist Thomas Golisano.
Greenlight and Golosano's Grand Oaks LLC of Pittsford has filed a joint petition with the New York Public Service Commission to request accelerated approval of the acquisition of Greenlight by Grand Oaks for an undisclosed sum.
Greenlight has been offering affordable, lightning speed Internet service in eastern Monroe County since 2012 (19659002) However, the company's fiber optic expansion is progressing at a snail's pace, particularly in the suburbs west of the Genesee River, which frustrates potential consumers.
The petition stated that Grand Oaks will acquire the controlling interest in Greenlight and that the proposed transactions are "in the public interest."
"The approval of the proposed transaction, as required in this petition, will serve the public interest This approval will provide Greenlight with significant additional capital and management resources, and the continued development of the competitive high ̵
Greenlight is in a critical phase in building its high-speed broadband connection and fiber networks, the petition said. The review and approval of the acquisition of Golisano is urgently needed as Charter / Spectrum is reportedly planning to launch the gigabit service throughout the state of New York in the near future, with the exception of Buffalo.
Greenlight's current rates and conditions do not change. The acquisition would create jobs, Grand Oaks said.
"We are absolutely thrilled to have Mr. Golisano as a partner, and we are thrilled with all the people who have been patiently waiting for our service." Mark Murphy, President of Greenlight said on Saturday.
"This will enable us to expand much broader and faster – Tom's philanthropy is so remarkable and we could not ask for a better partner for the future."
Murphy said the company wanted to announce soon, "When and where we're going," but said a significant expansion of the network would take place in the last half of 2018. According to its website, Greenlight currently serves Irondequoit, Webster, Brighton, East Rochester, Fairport, Pittsford, and Henrietta. It could possibly expand in Greece, Gates, Buffalo, Syracuse, Ithaca, Binghamton and Albany.
More consumers are cutting traditional cable services and streaming television and movies over the Internet.
"That's what most of our consumers do, the driver wants that kind of bandwidth to decide where he's supposed to get his video from," Murphy said.
He said That Golisano's interest in Greenlight and the subsequent investment proposal came about "fairly quickly."
The development is good news for consumers, said Brighton's Phillip Dampier, founder of stopthecap.com's website
Greenlight's success depends on its ability to rapidly expand its fiber network before Charter Spectrum, its big competitor, capitalizes The new ways to achieve Greenlight's download speeds have been improved.
Spectrum's recent move to fully digital channel formats has more Freeing up broadband space so that the company could avail its services ld increases its Internet speed for customers
High Speed Internet accessibility is crucial for many businesses,
High-speed Internet is crucial for many businesses, especially in high-tech sectors. But access to these broadband networks remains unreliable in the state of New York. (Photo: Thinkstock)
"Greenlight has stayed on the east side of Genesee because its problem has not been adequately capitalized, they did not have the means to push fiber, and they absolutely have it now," says Dampier. "With Golisano's capabilities and ability to raise capital, this means a much faster launch of this service.
" Many companies and consumers in Greece and Gates are hungry for this service, so it's very good news. It will give Greenlight a much higher profile and the company itself has expressed much more expansion outside of Rochester.
Dampier said his group will submit a supporting petition to obtain the accelerated approval of the agreement.
Greenlight offers 100 megabits of second-to-second service for 50 to 1000 Mbps, 100 times This will cost $ 100 a month.
New York Spectrum customers will soon have access to 200 Mbps for $ 65 and up to $ 940 for $ 125 a month, with an activation fee.  © Gannett Co., Inc. 2018. All rights reserved