The New York State Public Service Commission on Thursday approved the sale of local broadband company Greenlight Networks to Grand Oaks GLN, LLC. Grand Oaks is a Pittsford company owned by philanthropist and Paychex founder Tom Golisano.
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, has provided internet service in eastern Monroe County. 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.