Buffalo, IN-based LightStream has acquired Monon Telephone Company, adding to its existing fiber network in White and Pulaski Counties.
Besides offering internet and phone services, Monon customers can access managed Wi-Fi services in their homes or businesses.
“We have been neighbors to Monon since we started as a phone company in 1954,” says Brent Gillum, CEO of LightStream. “Adding the town of Monon and its surrounding area fits perfectly with our existing coverage and service platform.”
Buffalo, IN-based LightStream has acquired Monon Telephone Company, adding to its existing fiber network in White and Pulaski Counties.
Besides offering internet and phone services, Monon customers can access managed Wi-Fi services in their homes or businesses.
“We have been neighbors to Monon since we started as a phone company in 1954,” says Brent Gillum, CEO of LightStream. “Adding the town of Monon and its surrounding area fits perfectly with our existing coverage and service platform.”
A new chapter
Monon Telephone Company was founded in 1900 and has been family-owned since 1921.
Bruce Hanway, general manager of Monon Telephone Company, said, “The Hanway family is ready for a new chapter and that our beloved company of 100+ years is in great hands with our neighbors at LightStream.”
After meeting regulatory approvals, the companies expect the acquisition to be completed in the first half of 2024.
Charlesmead Advisors, LLC, served as Exclusive Advisor to Monon Telephone Company.
Focus on fiber
As the company moves to acquire Monon, the big focus for LightStream is to expand its fiber network. The telco has invested over $42 million in its fiber network.
Earlier this month, LightStream achieved its long-term goal of completing a 100% fiber network.
In 2010, the telco started with fiber internet installation at IU Health White Memorial Hospital in Monticello and Pulaski Memorial Hospital in Winamac.
Over the next 13 years, LightStream buried over 600 miles of fiber lines throughout its 168-square-mile footprint. The fiber network allows the telco to deliver symmetrical gigabit broadband.
Today, LightStream services are available to about 9,000 homes and businesses in Cass, Pulaski, and White counties, areas where it has built fiber broadband services.
The towns of Buffalo, Monticello, Pulaski, Royal Center, Star City and Winamac have all been awarded the Smart Rural Community designation by NTCA–The Rural Broadband Association — an award that recognizes better opportunities in agriculture, government, education, health care and more to come with access to reliable broadband service.
