Cox Business has long recognized this vast digital transformation was under way . Our business customers will need greater bandwidth capacity . We ’ ve positioned ourselves to meet that need by investing more than $ 15 billion in infrastructure upgrades over the past decade . And recently we ’ ve upped the ante by acquiring the commercial services segment of Segra , one of the largest privately held fiber infrastructure providers in the nation .
Fiber-optic internet is a broadband connection that can send data up to 70 % the speed of light . Fiber-optic cables are less susceptible to severe weather than traditional cables , which helps minimize outages and resist electrical interference . It ’ s also ideal for multiple users connecting with multiple devices at once .
The Segra investment , which became final in October , is one of the largest in Cox Communications and Cox Enterprises history . This deal also takes Cox Business beyond the $ 3 billion annual revenue milestone we ’ ve been pursuing for several years .
“ We believe the need for higher bandwidth capacity to fuel digital transformation for businesses across all industries and sizes will drive demand for broadband infrastructure , making fiber an attractive area for long-term investment ,” said Perley McBride , executive vice president and chief financial officer , Cox Communications . “ This is a win for us , and specifically for Cox Business .”
A Win for Customers Segra , a fiber-based internet provider based in Charlotte , N . C ., serves nine states in the Mid-Atlantic and Southeast , including areas outside our existing cable franchise footprint . The company provides critical connectivity for telecommunications carriers , enterprises , governments , higher education and healthcare organizations .
The deal is a big win for Cox — and for our customers . The acquisition allows Cox to offer more services to more businesses . That goes for companies in Segra ’ s adjacent area as well as those that currently use our voice , data and video services .
“ An expanded geographical presence , greater network capacity and more services will be an immediate benefit for customers of both companies and will better enable us to meet the significant demand for our solutions ,” added Mark Greatrex , incoming president of Cox Communications .
22 WINTER 2021