ATN Announces Completion of Sacred Wind Transaction

Rhea-AI Summary

ATN International, Inc. (Nasdaq: ATNI) has finalized its acquisition of Sacred Wind Enterprises, enhancing its digital infrastructure services. This acquisition, executed through ATN's subsidiary Commnet Broadband, aims to bolster wholesale carrier and broadband services in rural areas. The integration will allow for the consolidation of Sacred Wind's operations into ATN's "US Telecom" segment, further strengthening ATN's presence in the Southwest United States.

Positive

• Completed acquisition of Sacred Wind Enterprises, enhancing service offerings.
• Increased capacity for wholesale carrier and broadband services.
• Strengthened presence in the rural Southwest telecom market.

Negative

• None.

BEVERLY, Mass., Nov. 07, 2022 (GLOBE NEWSWIRE) -- ATN International, Inc. (“ATN” or the “Company”) (Nasdaq: ATNI), a leading provider of digital infrastructure and communications services, today announced that it has completed its previously announced acquisition of Sacred Wind Enterprises, Inc., a privately owned rural telecommunication provider in New Mexico. The acquisition was completed by ATN subsidiary Commnet Broadband, a regional owner and operator of bandwidth infrastructure serving the rural Southwest United States, and the Company expects the transaction to increase Commnet’s wholesale carrier, residential and business broadband services. ATN will consolidate the results of Sacred Wind’s operations with Commnet in its “US Telecom” segment.

About ATN

ATN International, Inc. (Nasdaq: ATNI), headquartered in Beverly, Massachusetts, is a provider of digital infrastructure and communications services in the United States and internationally, including the Caribbean region, with a focus on rural and remote markets with a growing demand for infrastructure investments. The Company’s operating subsidiaries today primarily provide: (i) advanced wireless and wireline connectivity to residential, business and government customers, including a range of high-speed Internet and data services, fixed and mobile wireless solutions, and video and voice services; and (ii) carrier and enterprise communications services, such as terrestrial and submarine fiber optic transport, and communications tower facilities. For more information, please visit www.atni.com.

Contact:

Justin D. Benincasa
Chief Financial Officer
ATN International, Inc.
978-619-1300

FAQ

What is the significance of ATNI's acquisition of Sacred Wind Enterprises?

The acquisition allows ATNI to enhance its digital infrastructure services and expand its broadband offerings in rural areas.

When was the acquisition of Sacred Wind Enterprises announced by ATNI?

ATNI announced the acquisition on November 7, 2022.

Which subsidiary of ATNI completed the acquisition of Sacred Wind?

The acquisition was completed by ATN's subsidiary, Commnet Broadband.

How does the acquisition impact ATNI's US Telecom segment?

The acquisition will consolidate Sacred Wind's operations with Commnet in ATNI's "US Telecom" segment, increasing service capabilities.