Boston Omaha Corporation Acquires Assets of Utah Broadband, LLC
December 17, 2020
Boston Omaha Corporation, through its wholly owned subsidiary FIF Utah LLC, has agreed to acquire substantially all of the assets of Utah Broadband, LLC for $21.6 million in cash plus a 20% membership interest in FIF Utah issued to Utah Broadband's CEO Steve McGhie. The transaction (expected to close within ~30 days subject to customary conditions) will leave Mr. McGhie with a 20% ownership stake and gives Boston Omaha an 80% initial stake as it plans significant capital investment to expand fiber-to-the-home service across the region.
- Buyers
- Boston Omaha Corporation, FIF Utah LLC
- Targets
- Utah Broadband, LLC
- Sellers
- Utah Broadband, LLC, Members of Utah Broadband (including Steve McGhie)
- Industry
- Telecommunications
- Location
- Utah, United States
- Transaction Type
- Buyout
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