123Net

123.Net Inc.
Company type	Private
Industry	Telecommunications
Predecessor	LECMI Inc.; Internet 123 Inc.;
Founded	March 5, 1995; 29 years ago
Headquarters	Southfield, Michigan, United States
Owner	Grain Management; (2024–present);
Number of employees	265
Website	123.net

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

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

Since its founding, 123NET has expanded through strategic 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

^ "Grain Management Buys Majority Stake in 123NET". Telecompetitor. April 2024. Retrieved October 14, 2024.
^ "Grain Management Acquires Majority Stake in 123NET". Broadband Communities Magazine. April 23, 2024. Retrieved October 14, 2024.
^ "Grain Management Completes Acquisition of 123NET". Grain Management. Retrieved 2024-10-25.
^ "123Net Welcomes Michigan Network Services". 123Net. October 9, 2014. Retrieved October 14, 2024.

External links

123NET Website

[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 2024-10-25.

[4] "123Net Welcomes Michigan Network Services". 123Net. October 9, 2014. Retrieved October 14, 2024.

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