Local Tech Wire

CHARLOTTE, N.C. – Alinda Capital Partners, a private equity firm, is buying a 50 percent ownership stake in for $137 million.

The creation of the joint venture is intended as a means to “grow DukeNet,” according to Duke Energy (NYSE: DUK), which will own the other 50 percent.

“We are pleased to partner with Duke Energy and DukeNet to provide critical telecommunications infrastructure in the southeastern U.S.,” said Alinda Managing Partner Chris Beale in a statement. “We like DukeNet’s strong competitive position and its strategy to meet rapidly growing demand for transmission of data.”
DukeNet provides services in parts of four starts, including the Carolinas.

Brad Davis, current president of DukeNet, will remain the head of the operation.

“This transaction demonstrates DukeNet’s value to the telecommunications market in North Carolina, South Carolina, Tennessee and Georgia, and it speaks to the quality of our networks,” Davis said.

The deal is expected to close in the third quarter.

Duke Energy launched DukeNet in 1994. It operates a fiber network exceeding 5,300 miles and provides a variety of services, such as bandwidth transport and data center connectivity.

Alinda Capital has more than $7 billion in assets under management.

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