Grain Management to acquire a majority stake in 123NET.

Grain Management, a solutions provider to the broadband and communications industry, agreed to acquire a majority stake in 123NET, a fiber internet, colocation, and business voice services provider based in Michigan. Financial terms were not disclosed. "123NET's operations have continuously grown through a series of strategic investments that ultimately created one of the Midwest's largest and most significant telecom enterprises. Grain is a sophisticated investor that shares our values and unwavering commitment to best-in-class service for Michigan businesses and communities. Together, our capable teams and combined resources will better enable us to serve current customers while attracting new opportunities, including expanding our high-density, A.I.-capable data centers and pursuing BEAD funding to improve affordable, reliable connectivity to unserved and underserved areas," Dan Irvin, 123NET CEO.