A Colorado holding company publicized plans to purchase PPL Telecom in a deal valued at $60 million. Boulder-based Communications Infrastructure Investments was founded by former area telecom executives and financed by five institutional investors.

Communications Infrastructure Investments will purchase PPL Telecom, a subsidiary of the Allentown, Pa.-based energy company PPL Corp, in a deal that also includes the assumption of $10 million in PPL Telecom debt.  A broadband provider with more than 4,000 miles of fiber along the Northeast coast, PPL said last month that it was shopping its telecom unit to focus on its core businesses of energy supply and delivery.

According to Dan Caruso, a co-founder of the Boulder firm and former executive with ICG Communications, Level 3 Communications and Envysion, PPL Telecom fit what Communications Infrastructure Investments was looking for in its first acquisition. This is the first of many endeavors to acquire and support long-term development of fiber-based bandwidth businesses.

The deal is scheduled to close in the third quarter and the plan is for Caruso's firm to operate the 70-employee PPL Telecom, while looking at acquisitions of other telecom companies.
Communications Infrastructure Investments has earmarked $225 million for the holding company through it’s five institutional investors — Denver-based Centennial Ventures, Columbia Capital, M/C Venture Partners, Oak Investment Partners and Battery Ventures.

This acquisition is solid for Boulder County. PPL Telecom had great momentum in the marketplace, and this should result in good jobs in the Colorado area.