EarthLink Acquires One Ring Networks

Expanding EarthLink's Reach to Bring Business Customers Best-in-Class Products and Services

DALLAS and ATLANTA and ATHENS, Texas, Aug. 18, 2023 /PRNewswire/ -- Trive Capital ("Trive"), the Dallas, TX-based private equity firm announces that EarthLink, a leading internet service provider delivering access to more homes and small businesses than any other ISP and a Trive portfolio company, has acquired One Ring Networks, one of the largest Fixed Wireless providers of voice and data services in the United States.

The acquisition will allow EarthLink to expand its business platform capabilities and portfolio of products and services including high-speed business internet. One Ring holds a significant market share across Arizona, California, Georgia, Maryland, and Texas, delivering high-speed, fixed wireless internet service and other communication services to businesses and consumers. The acquisition closed on June 30, 2023. John Jenkins, President of One Ring Networks, will serve as the newly appointed President of EarthLink Business Services.

Glenn Goad, CEO of Earthlink, said, "We are excited to partner with One Ring and accelerate the rollout of EarthLink Business Services. This combinatin represents a compelling growth opportunity in the high-speed business internet market, and EarthLink and One Ring will utilize the key advances in Fixed Wireless Access (FWA) technology to better serve our customers."

"EarthLink and One Ring's strategy is to continue to expand the leading platform in the industry both organically and through future acquisitions across the U.S. to better serve the Company's large and growing customer base," said John Jenkins, President of EarthLink Business Services. "With our combined commitment to providing business and consumer customers with the best in communication services, we will continue to be one the largest, fastest-growing, and top-ranked service providers in the industry."

Shravan Thadani, Partner at Trive Capital, noted, "EarthLink and One Ring are highly complementary businesses and together will provide ultra-reliable, high-speed internet services to businesses and consumers nationwide. Significant advances in FWA technology support One Ring's offering and will enable EarthLink to take its Business Services capabilities to the next level for its customers."

About EarthLink
EarthLink is a top U.S. internet provider delivering access to more homes and small businesses than any other ISP. Founded in 1994 and headquartered in Atlanta, GA, EarthLink offers high-speed internet access, premium email, web hosting, and privacy and data security products and services to approximately 750,000 consumer and business customers throughout the United States. EarthLink also has key partner relationships with several of the nation's largest providers, enabling the Company to offer products and connectivity services available to millions of households nationwide.

About One Ring Networks
One Ring Networks is an industry-leading provider of voice and data services across Arizona, California, Georgia, Maryland, and Texas. It offers a variety of services including fixed wireless internet service and other communications services to businesses and consumers.

Founded in 2010, One Ring Networks has grown from a regional alternative access carrier to a large Tier 2 carrier with a national backbone. Headquartered in Athens, TX, One Ring's business communications services power local organizations with a host of voice and data solutions including fixed wireless, fiber internet, 4G LTE wireless and hosted PBX.

With personable local customer service and consistent innovation setting it apart from other carriers in the industry, One Ring Networks has since become the preferred fixed wireless internet carrier in the U.S.

About Trive Capital
Trive Capital is a Dallas, Texas based private equity firm with more than $4 billion of regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing more than $6 billion in revenue across Trive's targeted industry sectors and situations.

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SOURCE Trive Capital

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