SALT LAKE CITY - (Business Wire) In the next step of their acquisition of the iProvo network,
Fiber-To-The-Premises (FTTP) provider Broadweave Networks has reached separate agreements to acquire and service the Provo-based customers of both Mstar Metro and Nuvont Communications. The agreements between
Broadweave and the providers make further provision for a smooth transition to ensure a high level of customer satisfaction. The actual transition of customers will coincide with Broadweave
’s acquisition of the iProvo network which is expected to close before July 1, 2008.
Mstar and Nuvont serve customers on the iProvo fiber-optic network. Those customers will remain on the iProvo network, but the agreements between those providers and Broadweave makes provision for those customers to be served by Broadweave. The companies are committed to making the move as seamless as possible.
“Throughout the transition period to Broadweave, Mstar’s customers in Provo should expect the same quality of service and support they have grown accustom to,” said Kirk Tanner, Mstar Vice President. “We will continue selling, servicing, and supporting our customers on the Utopia network as well as our long standing dial-up and DSL customers.”
Last week, Broadweave and Provo announced an agreement in which Broadweave would purchase the iProvo Network for a total of $40.6 Million. The iProvo network is the largest municipally owned Fiber-To-The-Premises (FTTP) network in the country.
Historically, the iProvo network has been a wholesale network because the City has been legally prohibited from becoming the service provider on its own network. Consequently, the city pursued a model in which service providers would pay iProvo to run services over the network to customers. However, under the terms of Broadweave’s acquisition of the iProvo network, Broadweave will become both network owner and service provider. The acquisitions today show Broadweave’s commitment to invest in the iProvo network and Broadweave’s ability to bring its financial resources to the entire solution.
As Steve Christensen, Broadweave’s CEO noted, “Not only is Broadweave committed to investing in the iProvo network as shown by today’s announcement, but Broadweave is also committed to investing in the network’s customer base.”
“I’m excited for this new path that the city and Broadweave have taken. Under the old wholesale model, it was difficult and inefficient to adequately service customers,” said Nuvont CEO, Brandon Grover, who will become a long-term customer and partner of Broadweave as he launches Viapath, a new company selling VoIP services across the country. “We saw this first hand as a service provider. In the long run, Broadweave’s model of being both the network owner and the service provider will result in the best experience for the customers.”
About Broadweave Networks
Broadweave Networks (www.broadweave.com) delivers its "Triple-Weave" suite of voice, video, and data services via the Company's own Fiber-To-The-Premises (FTTP) networks. Until recently, Broadweave has focused on deploying its fiber networks in new planned communities. Broadweave's acquisition of the iProvo network expands the company’s footprint. Broadweave also delivers data services, commercial telephony, and hosted Voice over IP (VOIP) communications services to small to mid-size businesses and enterprises.
Snapp Conner PR, Salt Lake City
Cheryl Snapp Conner, 801-376-2158
cheryl@snappconner.com
Clayton Blackham, 801-440-5040
clay@snappconner.com
