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The telecom industry never sits still for long.
Consider Pathworks Corp., the Naples-based cable company started by entrepreneurial partners Josh Henschell and David Nickerson (Business Review, June 11, 2010).
In a deal valued at $15 million, Austin, Tex.-based Lexicon United Inc. plans to acquire the upstart and invest another $2 million into the business. The acquisition is scheduled to be completed by Oct. 1.
Pathworks, which will become a Lexicon subsidiary, has partnered with phone giant CenturyLink to install fiber in condos and dense residential development, offering television programming, high-speed Internet and other telecommunication services.
The deal will allow Pathworks to expand from Naples and Fort Myers into Sarasota and the Tampa Bay area. “The Tampa Bay market is going to be key,” says Henschell.
In addition, Lexicon plans to acquire Chesscom Technologies, a Tampa-based company that provides telecommunication-engineering services, Henschell says. That will give the company greater resources to install fiber beyond residential developments to theme parks and health care facilities, for example.
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