"The used to be happy to let us have their signals free. As websites began offering more, however, including pictures and video, the phone lines didn't have the capacity to carry the digital signals.ĪTC bought cable TV companies in Blackshear and Baxley and, over time, Solomon learned there's no money in cable TV because the networks, ESPN, CNN and other providers want all they can get. He moved Alma Telephone into internet service with dial-up then DSL under ATC. "My age group dies off,'' the 68-year-old Solomon said, "the phone gets cut off and the young ones don't even think about getting one installed." Then the cellphone business started growing, and, as the quality improved, people began dropping their wire line services to the point Alma Telephone now has half the customers it once had. Indeed, in those years companies called offering the same services for less over lines and switching equipment they leased from Bell South, Alma Telephone and other former phone company monopolies. Other people could come in and cut your throat using your stuff.'' "We didn't know if it was going to put us out of business or not. "The Telecommunications Act said imbedded phone companies have to rent their infrastructure to other companies at a fair rate,'' Solomon said. He walked away from his thriving practice, however, because there were changes coming that could doom the business unless someone changed the services Alma Telephone provided. Solomon said then he had intended to continue practicing law and just walk from his office to Alma Telephone a few times a day, if needed, to sign something. Lawyer Teddy Solomon has been running the company since 1997 when owner Jack Bennett passed away, leaving his family as the owners and his friend Solomon as the trustee. A company offshoot, ATC Broadband, has underground fiber-optic lines running all the way to St. doesn't tell the whole truth: Neighbors serving neighbors for 75 years.Īnd indeed the phone company has been in business that long, but its service area now extends well past it neighbors in Bacon County where it ran phone lines to banks, restaurants and blueberry farmers, among others. | A sign in the window at Alma Telephone Co. To read the digital edition of the latest IPE Real Assets magazine click here.ALMA, GA. “We are delighted that Bala and his team have chosen to partner with us as we work together to implement a value creation plan that will focus on expanding ACT’s share in new geographies and customer segments.”ĪCT is Partners Group’s third investment in the telecom space this year after Unity Digital, a telecom tower platform in the Philippines, and Eolo, Italy’s fixed wireless access broadband provider. Vageesh Gupta, member of management at Partners Group, said: “Data consumption in India is booming yet our thematic research shows the wired broadband market is supply constrained with the country continuing to have amongst the lowest fibre-to-the-home penetration in the world. “The firm’s experience working with global technology companies and its expertise in supporting multi-dimensional growth will be very valuable.” ”As existing investors, we have followed ACT’s journey for several years and have been impressed with Bala and his team’s strategic vision, and their commitment to customer satisfaction, which converges with our focus on operational excellence.”īala Malladi, CEO of Atria Convergence Technologies, said: “Partners Group has been an integral part of the company’s growth journey for several years and is a great believer and supporter of our core values. Manas Tandon, managing director, private equity, Partners Group, said: “ACT is on the frontline of digitisation in India, providing fast, reliable broadband to millions of homes in the country. The company is an excellent opportunity for us to support the transformation of a growing business through expansion into new markets and development of new product offerings. Headquartered in Bangalore ACT serves around 2m wired broadband subscribers across 19 cities in India and has one of the largest fibre networks in the country Partners Group, which has been a joint investor in ACT since 2016, said it has agreed to take ownership of the firm with TA Associates owning a minority stake in ACT. Partners Group is taking a controlling stake in Atria Convergence Technologies (ACT) from Argan Mauritius and TA Associates, in a deal that values the Indian fibre-optic broadband provider at $1.2bn (€1bn).
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