InfoWest, A Subsidiary of Boston Omaha Corporation (NYSE: BOC), Acquires Assets of SunRiver Fiber Network

Rhea-AI Summary

InfoWest Inc., a majority owned subsidiary of Boston Omaha Corporation, has completed the acquisition of SunRiver Fiber Network from Cable Systems of Nevada. The acquisition includes all fiber internet assets and subscriber agreements, expanding InfoWest's footprint in St. George. InfoWest aims to maintain high-speed fiber internet and provide the best customer experience.

OMAHA, Neb.--(BUSINESS WIRE)-- InfoWest Inc. (“InfoWest”), a majority owned subsidiary of Boston Omaha Corporation (NYSE:BOC) has completed the acquisition of substantially all of the assets of SunRiver Fiber Network from Cable Systems of Nevada (“Cable Systems”). The transaction includes all fiber internet assets along with the internet and VoIP subscriber agreements. The acquisition expands InfoWest’s current fiber footprint in St. George by including the SunRiver Community.

InfoWest’s Co-Founder and COO Randy Cosby said, “The SunRiver Fiber Network is a really well-designed and constructed fiber project that fits nicely into our strategic growth plan. InfoWest is excited to continue the great service offered by Cable Systems and maintain a customer-first focus on delivering high-speed fiber internet.”

InfoWest’s Co-Founder and CEO Kelly Nyberg said, “Our business model of providing quality service and responsive support aligns well and helps to ensure continued high-quality internet service to all the customers in SunRiver. Our commitment to providing the best customer experience remains and we are excited to further enhance our current broadband efforts in St. George. This is a significant milestone for us to follow our mission of providing the ultimate internet experience to each of our customers.”

About The SunRiver Fiber Network & Cable Systems

The SunRiver Fiber Network, formerly operated by Cable Systems, includes approximately 2,700 fiber passings and 1,000 active fiber customers. Cable Systems provides high-speed internet, video offerings and voice services in Southern Utah, Nevada and Colorado.

About Boston Omaha Broadband & InfoWest

Boston Omaha Broadband (BOB) is a vertical of Boston Omaha that operates four broadband companies with an emphasis on fiber-to-the-premise. AireBeam (AZ), InfoWest (UT) and Utah Broadband (UT) are legacy ISPs serving numerous communities throughout Arizona, Utah and Nevada while Fiber Fast Homes is a nation-wide ISP specializing in new home and build-for-rent communities. Boston Omaha Broadband currently provides internet service to over 40,000 subscribers throughout 13 states. For more information about Boston Omaha Broadband visit www.bostonomahabroadband.com/.

InfoWest, a leader in Southern Utah’s ISP industry since 1994, offers Fiber-Optic Broadband Internet and High-Speed Wireless services to residential and commercial clients throughout Utah and select areas of Arizona and Nevada. In addition to Internet, InfoWest also offers VoIP, video streaming, security and video surveillance, and IoT automation. Headquartered in St. George, Utah, InfoWest continues to expand its network footprint, coverage and reliability to allow faster speeds for thousands of customers. InfoWest is the Utah 2023 Best of State winner in telecommunications. For more information about InfoWest visit www.infowest.com.

About Boston Omaha

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

Forward-Looking Statements

Any statements in this press release about the Boston Omaha Corporation’s future expectations, plans and prospects, including statements about our financing strategy, future operations, future financial position and results, market growth, revenue, as well as other statements containing the words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” and similar expressions, constitute forward-looking statements within the meaning of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make as a result of a variety of risks and uncertainties, including risks related to our estimates regarding the potential market opportunity for our current and future products and services, the competitive nature of the industries in which we conduct our business, general business and economic conditions, our ability to raise additional financing, our ability to acquire suitable businesses, our ability to successfully integrate acquired businesses, the effect of a loss of, or financial distress of, any reinsurance company which reinsures our insurance operations, the risks associated with our investments in both publicly traded securities and privately held businesses, our history of losses and our ability to attain and maintain profitability in the future, our expectations regarding our sales, expenses, gross margins and other results of operations, and the other risks and uncertainties described in the “Risk Factors” sections of our public filings with the Securities and Exchange Commission (the “SEC”) on Form 10-K for the year ended December 31, 2022, as well as other risks and uncertainties which may be described in any subsequent quarterly report on Form 10-Q filed by us and the other reports we file with the SEC. Copies of our SEC filings are available on our website at www.bostonomaha.com. In addition, the forward-looking statements included in this press release represent our views as of the date hereof. We anticipate that general economic conditions and subsequent events and developments may cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.

Boston Omaha’s investor relations website is https://investor.bostonomaha.com/

View source version on businesswire.com: https://www.businesswire.com/news/home/20231101628202/en/

Boston Omaha Corporation

Mark (Butch) Burgers, 402-403-3771

contact@bostonomaha.com

Source: Boston Omaha Corporation

FAQ

Who acquired SunRiver Fiber Network?

InfoWest Inc., a majority owned subsidiary of Boston Omaha Corporation, acquired SunRiver Fiber Network.

What assets were acquired in the transaction?

The transaction included all fiber internet assets and subscriber agreements.

What is the impact of the acquisition on InfoWest's footprint?

The acquisition expands InfoWest's current fiber footprint in St. George by including the SunRiver Community.

What is InfoWest's commitment to customer experience?

InfoWest is committed to providing the best customer experience and aims to maintain high-speed fiber internet.

Who is InfoWest's Co-Founder and COO?

InfoWest's Co-Founder and COO is Randy Cosby.

Who is InfoWest's Co-Founder and CEO?

InfoWest's Co-Founder and CEO is Kelly Nyberg.