Wireless satellite broadband provider KeyOn has acquired a major portion of SouthWest Wireless Net’s broadband assets from New Vision to help extend KeyOn’s network footprint in southwestern Minnesota.
No purchase price was released.
Founded in 2002, KeyOn Communications Holdings, Inc., claims to be one of the largest rural wireless broadband providers in the United States. The company currently operates networks covering more than 55,000 square miles in 12 states across the Midwest and Western United States and has grown through the consolidation of similar companies as well as organically.
According to a statement, KeyOn acquired SouthWest Wireless Net as part of its Rural UniFi acquisition initiative designed for independent wireless broadband companies. SouthWest Wireless Net is the fifth company acquired under this program in 2010.
“The purchase of SouthWest Wireless Net increases our footprint in Minnesota, adds to our top-line revenues and contributes positive EBITDA immediately. The transaction allows SouthWest’s parent company, New Vision Cooperative, to focus on its core grain, feed and agronomy businesses while confidently transitioning its wireless broadband customers to a leading and quality provider of wireless broadband service,” added Jason Lazar, KeyOn’s VP/Corporate Development and general counsel.
KeyOn’s primary focus is on providing fixed wireless broadband to rural and other areas of the country currently underserved by traditional phone and cable companies. Its current network footprint covers an addressable market of approximately 2.8 million people as well as small to mid-sized businesses.