Dobson Fiber is partnering with iCON Infrastructure in a deal that will see iCON Infrastructure Partners V providing financial support for Dobson’s $700 million fiber deployment plan across Oklahoma, Arkansas and Texas.
The Dobson Family will retain significant ownership of the company. The family and iCON Infrastructure will support Dobson Fiber’s management team and workforce, according to a press release.
Dobson Fiber has already announced fiber internet deployments in Atoka, Duncan, Enid, Lawton, Newalla, Panama, Shady Point, Waurika and Weatherford in Oklahoma and Booneville, Lavaca and Ozark in Arkansas, with further markets to be announced soon.
Dobson Fiber has a long telecom history. The company started providing telecommunications services in Oklahoma since its founding by E.R. “Doc” Dobson in 1936. Today, Dobson Fiber owns and operates a regional fiber optic network that spans Oklahoma and parts of Arkansas and Texas, a network with more than 4,900 fiber route miles designed to provide a full suite of high-quality and reliable connectivity services to enterprise, small, and medium-sized business and residential customers.
The transaction is expected to close in the third quarter, subject to regulatory approvals and other customary closing conditions.
“For over 85 years Dobson Fiber has been connecting communities with the latest technology available,” said Everett Dobson, Dobson executive chairman, in a prepared statement. “This strategic partnership with iCON Infrastructure will allow us to reach more communities and deploy our fiber network much sooner across Oklahoma, Arkansas and Texas. Being able to attract outside growth capital is a testament to the organization that our employees have built and represent every day. We look forward to working with iCON Infrastructure for many years to come.”
The announcement comes about one year after Dobson Fiber announced the acquisition of Ft. Smith, Ark. -based Pinnacle Communications.