KeyOn Acquires SouthWest Wireless Net
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, the company announced.
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.
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“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,” KeyOn Vice President of Corporate Development and General Counsel Jason Lazar said in a statement.
Financial details of the acquisition were not disclosed.