Late Friday evening, Broadweave Networks completed the acquisition of the iProvo network in Provo, Utah, officially becoming the sole owner and operator of what was the largest municipal fiber-to-the-premises (FTTP) network in the United States.
“We are pleased with the positive feedback we have received from iProvo customers as they have worked with and interacted with Broadweave during this transition,” said Provo Mayor Lewis K. Billings. “Given the complexity of this project and transaction, we are very pleased to announce that our deal with Broadweave is now fully signed, sealed and delivered.”
Broadweave said the acquisition made it one of the largest fiber-to-the-home (FTTH) network operators in the country, with a network that passes 36,000 homes, businesses, government buildings and schools at speeds of up to 1,000 times faster than cable or DSL. Broadweave’s acquisition marks the first privatization of a municipally owned FTTH network.
With 60 days of operations under its belt, Broadweave said it has already surpassed its sales and financial objectives.
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