NOVA Infrastructure, a middle-market infrastructure investment firm, has acquired Xchange Telecom, a telecommunications company primarily serving residents and businesses in New York City. Financial terms were not disclosed.
Xchange delivers high-speed internet, voice and unified communication services to customers in Brooklyn, Queens, Manhattan and the Bronx, as well as communities in upstate New York and New Jersey. The company was founded in 2002 to address New York City’s ongoing lack of quality high-speed internet and voice services in many of its residential and commercial buildings in Brooklyn, Queens and the Bronx, which the company refers to as “digital deserts.” Today, Xchange and its commercial business, Skywire, provide broadband in New York City, upstate New York and New Jersey to more than 2,000 lit buildings, 50 neighborhood hubs and relays, and a near-net footprint exceeding 350,000 buildings.
NOVA first invested in Xchange in September 2021.