Boston Omaha Corporation Completes the Acquisition of InfoWest, Inc. and Go Fiber LLC

Rhea-AI Summary

Boston Omaha Corporation (NYSE: BOC) has acquired InfoWest, Inc. and Go Fiber LLC, fiber and fixed wireless internet service providers in St. George, Utah. This acquisition allows Boston Omaha to expand its high-speed internet services to over 20,000 customers across Southern and Central Utah, Northern Arizona, and Nevada. Equity holders of InfoWest and Go Fiber will retain a 20% ownership in the newly formed FIF St George. Additional capital investments are planned to accelerate fiber expansion and enhance connectivity in rural communities.

Positive

• Acquisition expands Boston Omaha's broadband services to over 20,000 customers.
• 20% ownership stake retained by InfoWest and Go Fiber equity holders indicates commitment.
• Plans for significant capital investments to enhance fiber-to-the-home capabilities.

Negative

• None.

OMAHA, Neb.--(BUSINESS WIRE)-- Boston Omaha Corporation (NYSE: BOC), through its wholly owned subsidiary FIF St George, LLC (“FIF St George”), has completed the acquisition of the businesses operated by InfoWest, Inc. (“InfoWest”) and Go Fiber LLC (“Go Fiber”), fiber and fixed wireless internet service providers located in St. George, Utah. The InfoWest and Go Fiber businesses together provide high-speed internet services to over 20,000 customers throughout Southern and Central Utah, Northern Arizona and Moapa Valley, Nevada.

InfoWest Co-Founder and CEO Kelly Nyberg said, “Our partnership with Boston Omaha will dramatically accelerate our fiber expansion within our current markets and into new communities.”

InfoWest and Go Fiber equityholders will collectively have a 20% initial ownership stake in FIF St George, a new entity formed by Boston Omaha for purposes of completing the acquisitions. Boston Omaha intends to make significant additional capital investments to fund FIF St George’s fiber-to-the-home expansion. Key members of the executive team will remain on to continue guiding the company in the next phase of growth.

Co-CEO of Boston Omaha, Adam Peterson added, "The InfoWest and Go Fiber teams have built robust networks capable of scaling within and outside of their current footprints. Additionally, their history of delighting customers by providing exceptional service made these businesses a natural fit into our fiber-to-the-home strategy throughout western rural communities and beyond.”

Boston Omaha’s Fiber is Fast businesses include AireBeam in Arizona, Utah Broadband in northern Utah, InfoWest and Go Fiber in Utah, Arizona and Nevada, and Fiber Fast Homes.

About Boston Omaha Corporation

Boston Omaha Corporation is a public holding company with four majority owned businesses engaged in outdoor advertising, surety insurance, broadband telecommunications services, and asset management.

Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words “believe,” “anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,” “potential,” “may,” “should,” “expect,” “pending” and similar expressions identify forward-looking statements. The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220404005957/en/

Boston Omaha Corporation

Catherine Vaughan, 617-875-8911

cathy@bostonomaha.com

Source: Boston Omaha Corporation

FAQ

What is Boston Omaha's recent acquisition related to BOC?

Boston Omaha Corporation has acquired InfoWest, Inc. and Go Fiber LLC to expand its broadband services.

How many customers will Boston Omaha serve after acquiring InfoWest?

Boston Omaha will expand its services to over 20,000 customers in Southern and Central Utah, Northern Arizona, and Nevada.

What stake do InfoWest and Go Fiber equity holders have in FIF St George?

InfoWest and Go Fiber equity holders will have a 20% initial ownership stake in FIF St George.

What is the significance of the acquisition for Boston Omaha's growth?

The acquisition enables Boston Omaha to accelerate fiber expansion within existing markets and reach new communities.