Pending regulatory approvals, ImOn Communications, LLC, a provider of fiber broadband services in the Eastern Iowa region, has entered into a definitive agreement to acquire FiberComm, a provider of internet and voice services to businesses in the Sioux City market for over 20 years.
Patrice Carroll, CEO of ImOn, explained:
“ImOn and FiberComm share a vision to provide reliable, high-quality services and responsive, caring customer support in our respective markets. We look forward to working with FiberComm’s excellent team to build ImOn’s service footprint in the Western part of Iowa and provide fiber broadband services to both residents and businesses in the Sioux City area.”
The transaction is expected to close in 2023 and is subject to obtaining customary regulatory approvals. Charlesmead Advisors, LLC, served as Exclusive Advisor to FiberComm on the transaction. ImOn was advised by Shuttleworth & Ingersoll and Morgan Lewis & Bockius.
Founded in 2007 as a single-market cable provider, ImOn has transformed into a regional fiber-to-the-premise (FTTP) platform that currently owns and operates a 2,000+ mile network reaching over 77,000 households and businesses. The company says it is "committed to delivering superior network reliability, unrivaled connection speeds, and exceptional customer service."
ImOn noted that it remains engaged in completion its network expansion to all homes and businesses in Cedar Rapids, Marion, Hiawatha, Iowa City, Coralville and Dubuque. The acquisition of FiberComm will be ImOn’s first expansion of its service footprint outside of Eastern Iowa.
Al Aymar, CEO of FiberComm, said:
“The FiberComm team is excited by the opportunity ImOn brings to Sioux City. Both residents and businesses in our community will benefit greatly from the fast, reliable fiber-to-the-premise broadband services and superior level of customer care.”