HickoryTech completes acquisition of IdeaOne

HickoryTech (Nasdaq: HTCO), a regional independent telco, on Friday completed its acquisition of fiber-based CLEC IdeaOne, a move that immediately enhances its fiber network reach to serve new business and broadband customers in the nearby Fargo, N.D. area.

John Finke, HickoryTech

Finke

"The IdeaOne acquisition further expands our business and broadband services and gives us immediate access to the Fargo market for growth opportunities," said John Finke, HickoryTech president and chief executive officer.

Indeed, by acquiring IdeaOne HickoryTech gains 225 fiber route miles that are the foundation for a greater set of 3,600 consumer and business service customers.

Business services, however, is the big driver here as the majority of IdeaOne's $12.3 million in 2011 revenue was derived from business service sales. HickoryTech will gain access to IdeaOne's 650 fiber-fed buildings to serve business customers a host of Ethernet services, IP-based voice, collocation and hosting services.

One of the key attributes that the combined network, which will include HickoryTech's completion of its own northern Minnesota broadband route this year will be network diversity, a factor that will ensure greater uptime in the event that a disaster strikes network facilities.  

Once HickoryTech integrates of IdeaOne into its fold, it will market services under its Enventis business-to-business brand in the Fargo market.

For more:
- see the release

Special report: The most important M&As of 2011

Related articles:
HickoryTech acquires IdeaOne Telecom, bulks up broadband, business holdings
HickoryTech's Enventis enters telepresence service game
HickoryTech ups its quarterly cash dividend
HickoryTech's Enventis begins work on $24M middle mile project

Suggested Articles

France and Germany are teaming up to jointly create a cloud-computing ecosystem that would challenge AWS, Microsoft and Google, according to Reuters.

Calix has teamed up with Spirent for a single lab that speeds up testing cycles while lowering powering and capex.

VMware announced on Thursday that it has struck a deal to buy network security vendor Lastline for an undisclosed sum.