The New York State Public Service Commission on Thursday gave the green light to former Buffalo Sabres owner Tom Golisano. The PSC approved the sale of local broadband company Greenlight Networks to Golisano's Grand Oaks GLN, LLC.
The PSC says the sale will give Greenlight access to financial capital and allow it to build its high-speed broadband fiber network, as well as optimize its operation in a way that is needed for long term success in a competitive telecom industry.
“In today’s economy, high-speed broadband access is a necessity, not a luxury,” said Commission Chair John Rhodes. “With this decision, Greenlight can access much-needed capital and managerial resources that will allow it to expand its high-speed broadband fiber network and facilities and compete more effectively in the market.”
Greenlight, which has been around since 2012, provides internet service in eastern Monroe County, the home base of the Paychex founder and philanthropist. The PSC says with the acquisition, Greenlight will be able to keep up with the demands for its services and could potentially expand into other parts of the state.
