ATN International, Inc - ATNI STOCK NEWS

Nearly 12,000 rural Alaskans from 23 communities will gain high-speed internet through the proposed Alaska FiberOptic Project, pending NTIA grant approval. This initiative, led by Calista Corporation, Doyon, Limited, Gana-A ‘Yoo Limited, and Alaska Communications, aims to connect underserved regions along the Yukon and Kuskokwim Rivers with fiber-optic technology, enabling access to essential services. Applications for NTIA Tribal Broadband Connectivity Program grants were submitted on Sept. 1, with project completion targeted for 2024.

Geoverse, a private cellular networks operator, is addressing the 'Homework Gap' by providing broadband solutions to various school districts across the U.S. Amid ongoing challenges from the pandemic, many students lack sufficient internet access for remote learning. Geoverse supports these districts by establishing secure private networks, leveraging cellular and CBRS spectrum. Recent initiatives are expected to gain momentum with the potential $65 billion funding from the US Infrastructure Bill. This partnership not only enhances educational access but also extends connectivity benefits to municipal needs.

Alaska Communications is partnering with the University of Michigan to utilize subsea fiber optic cables for earthquake monitoring.

Assistant Professor Ƶack Spica and a student have attached a DAS interrogator to the company’s fiber network in Florence, Oregon. This technology analyzes seismic activity to provide essential data, particularly valuable for understanding the Cascadia subduction zone.

Rick Benken, Alaska Communications' VP, noted the significance of their infrastructure in supporting research that could lead to tsunami early warning systems.

Geoverse, a provider of managed private CBRS/LTE solutions, has welcomed Black Box to its partner program. This partnership allows Black Box to enhance its offerings with Geoverse's LTE and 5G solutions tailored for enterprises and communities. Both companies are capitalizing on growth in the healthcare sector, focusing on applications like telehealth and IoT. They aim to leverage their combined expertise to improve secure wireless connectivity, crucial for healthcare operations. The collaboration highlights their commitment to advancing private LTE and CBRS solutions, particularly within key verticals.

ATN International reported a 14% increase in Q2 2021 revenues to $123.9 million, driven by broadband and mobility growth. The acquisition of Alaska Communications is expected to contribute $105-$109 million in revenue and $27-$29 million in Adjusted EBITDA through 2021. However, operating income declined to $2.9 million, and net income dropped to $2.0 million, reflecting increased operational costs and expenses. The company is optimistic about growth from its expanded fiber network and partnerships.

ATN International, Inc. (NASDAQ: ATNI) has completed its acquisition of Alaska Communications Systems Group, Inc. in an all-cash deal valued at approximately $343 million, including outstanding net debt. Each share of Alaska Communications’ common stock was exchanged for $3.40 in cash. This acquisition will enhance ATN's US Telecom segment, leveraging Alaska Communications' focus on customer satisfaction and fiber-based services. Both companies anticipate synergies and improved service delivery in Alaska's market.

Geoverse announces a partnership with Walker and Associates, enhancing their managed private CBRS/LTE solutions. Walker, known for distributing network products, gains access to Geoverse’s services, targeting the $1B CBRS market. Gus Vasilakis from Walker emphasizes the opportunity to better serve customers with professional services. Geoverse's solutions feature seamless integration and scalability through GeoCore, benefiting businesses with dedicated support. Their user devices list includes major tech brands, showcasing real-world use cases in private LTE and CBRS.

ATN International, Inc. (Nasdaq: ATNI) will report its Q2 2021 results on July 28, 2021, at 5:00 p.m. (ET). A conference call to discuss the results and the company's acquisition of Alaska Communications is scheduled for July 29, 2021, at 10:00 a.m. (ET). Interested parties can join the call by dialing (877) 734-4582 for US/Canada or (678) 905-9376 for international calls, using the Conference ID: 7032438. A replay will be available post-call at ir.atni.com.