DETROIT – Rocket Fiber, an internet service provider based in Detroit and owned by Dan Gilbert, has been sold to a Cleveland company.
Everstream announced it would be acquiring Rocket Fiber, in an effort to expand into the Detroit market. Terms of the deal were not disclosed.
Recommended Videos
“Detroit has undergone extraordinary growth in the last five years, making the acquisition of Rocket Fiber and its strong presence in Detroit the perfect complement to our existing Michigan network,” said Everstream President and CEO Brett Lindsey. “We’ve had a longstanding relationship with Dan Gilbert and the Rock Family of Companies, including Rocket Fiber, Rock Ventures and the Cleveland Cavaliers. This opportunity allows us to continue to provide Detroit-area businesses with the high-capacity, low-latency connectivity services they’ve come to expect from their fiber network provider and expands their direct access across Midwest through the growing Everstream network.”
The expansion into Detroit with the Rocket Fiber acquisition includes:
- 41 route miles of network in greater downtown Detroit.
- Direct connection to Everstream’s existing fiber network infrastructure in Michigan and its other Midwest markets.
- Two offices in downtown Detroit, including more than 75 team members.
“This acquisition marks the final stage of Rocket Fiber’s evolution,” said Marc Hudson, CEO and Co-Founder, Rocket Fiber. “What began six years ago as a moonshot idea to leapfrog Detroit’s technology infrastructure has come full circle as we’ve matured into a rapidly growing and profitable business. By joining Everstream, our customers have access to the same incredible client service along with the added benefit of Everstream’s much larger Midwest footprint.”
All Rocket Fiber clients will continue to receive all services without disruption.
Rocket Fiber expanded in Downtown Detroit in 2015 after Dan Gilbert backed the company, offering the first fiber optic internet service in the area.