Sale Of Nine Telephone Exchanges To Premier Now Complete
Date posted - September 2, 2016
Mattoon, Illinois — The sale of nine northwest Iowa telephone exchanges in our area is final. That according to the company selling the exchanges — Consolidated Communications Holdings, Incorporated.
Officials there announced on Thursday, September 1st, that they have completed the sale of the Heartland Telecommunications Company of Iowa subsidiary to Mutual Telephone Company of Sioux Center, also known as Premier Communications; and Winnebago Cooperative Telecom Association of Winnebago, Iowa.
Consolidated says they intend to focus on their core regions. They say both Premier and Winnebago are “uniquely positioned to provide exceptional service to customers in the rural areas of northwest Iowa.”
Premier acquired the Iowa exchanges of: Akron, Boyden, Doon, Hawarden, Hull, Ireton, Rock Rapids, Rock Valley and Sibley. Winnebago acquired the Iowa exchanges of Bancroft and Lakota.
The Heartland operation contributed approximately $7.0 million of revenue in fiscal 2015, according to Consolidated. The sale was an all-cash transaction valued at approximately $20.9 million.
President of Premier Communications in Sioux Center, Doug Boone said last month that they have been providing competing service with Consolidated in all of the communities except for two — Sibley and Hawarden. He says in addition to upgrading the service in the exchange areas, they will also now be able to provide service to rural customers in those areas — something they could not do before.
Boone says they plan to offer positions to all of the former Consolidated employees in the area, and for now at least will keep a former Consolidated office in Rock Rapids.