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.
"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.
- see the release
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