A LOCAL INTERNET AND PHONE SERVICE COMPANY HAS BEEN PURCHASED BY A CEDAR RAPIDS BASED COMPANY.
IMON COMMUNICATIONS, LLC, A PROVIDER OF FIBER BROADBAND SERVICES IN EASTERN IOWA, HAS ENTERED INTO AN AGREEMENT TO ACQUIRE FIBERCOMM.
FIBERCOMM HAS BEEN PROVIDING INTERNET AND VOICE SERVICES TO BUSINESSES IN THE SIOUX CITY MARKET FOR OVER 20 YEARS.
IMON WAS FOUNDED IN 2007 AS A SINGLE-MARKET CABLE PROVIDER AND HAS TRANSFORMED INTO A REGIONAL FIBER-TO-THE-PREMISE PLATFORM THAT CURRENTLY OWNS AND OPERATES A 2,000+ MILE NETWORK THAT REACHES OVER 77,000 HOUSEHOLDS AND BUSINESSES IN CEDAR RAPIDS, MARION, HIAWATHA, IOWA CITY, CORALVILLE AND DUBUQUE.
THE ACQUISITION OF FIBERCOMM WILL BE IMON’S FIRST EXPANSION OUTSIDE OF EASTERN IOWA.
THE PURCHASE IS EXPECTED TO CLOSE IN 2023 PENDING REGULATORY APPROVALS.
