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123Net

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From Wikipedia, the free encyclopedia

123.Net Inc.
TypePrivate
IndustryTelecommunications
Predecessor
  • LECMI Inc.
  • Internet 123 Inc.
FoundedMarch 5, 1995; 31 years ago (1995-03-05)
Headquarters
Southfield, Michigan
,
United States
Owner
  • Grain Management
  • (2024–present)
Number of employees
350
Website123.net

123.Net Inc., also known as 123NET, is a telecommunications company based in Southfield, Michigan, USA. Founded in 1995, it provides fiber internet, colocation, and business voice services.

The company operates a network spanning over 3,100 route miles of fiber, connecting major metropolitan areas across Michigan. 123NET manages the Detroit Internet Exchange (DET-iX), one of the largest fee-free internet exchanges in the world, and the Grand Rapids Internet Exchange (GRR-iX).[1]

Even after having its controlling interest sold to Grain Management, 123NET continues to invest in expanding its high-density data centers and fiber infrastructure, with an emphasis on improving connectivity in underserved areas.[2] The company is actively involved in public-private partnerships to support broadband expansion in Michigan.

In July 2024, a majority stake in the company was acquired by Grain Management, a private equity firm specializing in broadband infrastructure, although the original leadership retained a significant ownership share.[3]

Acquisitions

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Since its founding, 123NET has made acquisitions including:

  • T2 Communications of Holland, MI (April 2015)
  • Michigan Network Services (October 2014)[4]
  • MICA.Net (July 2014)
  • West Michigan Internet Services (January 2011)
  • Waypoint Telecommunications and Fiber Networks (July 2010)
  • Zing Networks (September 2009)

References

[edit]
  1. ↑ "Grain Management Buys Majority Stake in 123NET". Telecompetitor. April 2024. Retrieved October 14, 2024.
  2. ↑ "Grain Management Acquires Majority Stake in 123NET". Broadband Communities Magazine. April 23, 2024. Retrieved October 14, 2024.
  3. ↑ "Grain Management Completes Acquisition of 123NET". Grain Management. Retrieved October 25, 2024.
  4. ↑ "123Net Welcomes Michigan Network Services". 123Net. October 9, 2014. Retrieved October 14, 2024.
[edit]
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