Monday, December 5, 2011

HickoryTech Acquires a Fiber Network in Fargo for $28 Million

HickoryTech agreed to acquire IdeaOne Telecom Group for $28 million in cash. IdeaOne operates a fiber network in Fargo, North Dakota that serves about 1,900 business customers and 1,700 residential customers. The acquisition will add 225 fiber route miles to HickoryTech's regional network. The fiber network facilities, which extend to 650 on-net fiber-lit buildings, include: multiple 10 GB fiber rings, Ethernet capabilities, soft-switching infrastructure, and colocation services. IdeaOne had fiscal 2010 revenue of $11.1 million.

HickoryTech's multi-state fiber network spans more than 3,250 route miles serving Minnesota, Iowa, North Dakota and South Dakota. Enventis provides IP-based voice and data solutions, MPLS networking, data center and managed hosted services and communication systems to businesses across a five-state region. HickoryTech delivers broadband Internet, Digital TV, voice and data services to businesses and consumers in southern Minnesota and northwest Iowa.