Quanta Services is contributing to a PIPE deal for the IAC-backed internet service provider’s reverse takeover valuing the combined business at $1.66bn.

Starry, a US-based internet access provider backed by media and internet conglomerate IAC, has agreed a reverse merger with special purpose acquisition company FirstMark Horizon Acquisition Corp.

Founded in 2014, Starry has built a high-frequency radio antenna system dubbed Starry Trident which is installed on the rooftops of radio towers and skyscrapers to deliver internet connection to its customers.

The merger is set to close in the first quarter of 2022 and will give Starry a pro forma enterprise valuation…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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