Iowa Telecom (NYSE: IWA) announced today that the telecommunications company has completed its acquisition of New Ulm Telecom Inc.’s ownership interests in En-Tel Communications, LLC, SHAL, LLC, and SHAL Networks, Inc. for $1.9 million. New Ulm Telecom is based in New Ulm, Minnesota.
SHAL owns and leases a 2,500-mile fiber-optic network throughout Minnesota that provides access to low cost, high quality transport facilities. En-Tel Communications is a CLEC based in Willmar, Minnesota, providing local voice, DSL and digital video services to customers in central Minnesota. Iowa Telecom now owns all of the outstanding equity in the SHAL entities and substantially all of En-Tel Communications.
Iowa Telecom is the largest independent telephone company in Iowa and one of the twenty largest telephone companies in the nation.
About Iowa Telecom
Iowa Telecommunications Services, Inc. (d/b/a Iowa Telecom) is a telecommunications service provider that offers local telephone, long distance, Internet, broadband and network access services to business and residential customers. Today, the Company and its subsidiaries serve over 450 Iowa communities, 10 Minnesota communities and employs approximately 800 people. The Company’s headquarters are in Newton, Iowa. The Company trades on the New York Stock Exchange under the symbol IWA. For further information regarding Iowa Telecom, please go to www.iowatelecom.com and select “Investor Relations.” The Iowa Telecom logo is a registered trademark of Iowa Telecommunications Services, Inc. in the United States.
The press release may contain forward-looking statements that are not based on historical fact, including without limitation statements containing the words “believes,” “may,” “plans,” “will,” “estimate,” “continue,” “anticipates,” “intends,” “expects,” and similar expressions.Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, events or developments to be materially different from future results, events or developments described in the forward-looking statements. Such factors include those risks described in Iowa Telecom’s Form 10-K on file with the SEC. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. All information is current as of the date this press release is issued, and Iowa Telecom undertakes no duty to update this information.
Contacts:
Investor Relations Contact:
Corporate Communications, Inc.
Kevin
Inda, 407-566-1180
Kevin.Inda@cci-ir.com
or
Media
Contact:
Iowa Telecommunications Services, Inc.
Julie White,
641-787-2040
Director, Corporate Communications
Julie.White@iowatelecom.com
