A growing fiber internet company from Rochester, New York, agreed to acquire Northeast Pennsylvania-based Loop Internet, which has been rapidly expanding since its founding in 2015, the companies announced Tuesday.
Greenlight Networks, ranked by Consumer Reports as the country’s highest-rated internet provider in October 2024, is expected to close on the deal by the end of the year.
Terms of the proposed transaction were not disclosed.
“We’re proud of what we’ve built at Loop Internet, and this next chapter with Greenlight Networks is an exciting evolution of that journey that enables us to accelerate our plans,” Loop founder Chris Hacken said in a news release.
Frustrated by the area’s internet service, Hacken founded Scranton-based Loop Internet in 2015. Over the past decade, the company has grown to provide high speed internet service to the region’s largest cities, Scranton and Wilkes-Barre, and has most recently expanded to parts of Mountain Top and Kingston with plans to soon enter the Hazleton market.
“We’ve overcome so many challenges that would make any sane person quit and walk away,” Hacken wrote on Facebook. “These past 10 years have been the ride of a lifetime that few entrepreneurs get to experience and will surely be a pivotal moment in my life.”
Hacken said it will be “business as usual” for customers once Greenlight Networks acquires Loop following regulatory approvals.
Greenlight currently serves more than 170,000 homes in 27 municipalities in the Rochester, Buffalo, Binghamton, and Albany areas in New York. In April, Greenlight announced its expansion into Pennsylvania in the northeast and south-central regions.
“We are thrilled at the prospect of welcoming Loop Internet, their associates, and customers to Greenlight Networks,” said Mark Murphy, CEO of Greenlight Networks. “Loop’s existing network footprint complements our current and planned service areas, and will provide a critical base of operations, in addition to key personnel and resources in the Scranton area. By joining forces, we can move faster into new markets, operate more efficiently, and deliver an exceptional customer experience to even more consumers.”