COEUR D’ALENE, Idaho, March 1, 2021 /PRNewswire/ — Fatbeam and Ednetics recently completed the acquisition of Tek-Hut, an Idaho-based technology provider serving both education organizations and local and state governments.
Fatbeam – a fiber internet and infrastructure provider to schools, businesses, healthcare, and governments – is acquiring Tek-Hut’s internet and WAN business. Ednetics is acquiring Tek-Hut’s managed services, network integration and device practice, to build on and expand its advanced technology services and solution offerings to education and public sector communities.
All Tek-Hut employees involved in the transaction are expected to continue in a similar role within their new organization.
“This is ultimately a success story of three Idaho-based technology companies with a common commitment to improving the connectivity and efficiency of Idaho schools, governments and businesses,” said Paul Merritt, CEO, Fatbeam. “Today marks a new chapter for each of our companies, with a bright future ahead.”
Both Fatbeam and Ednetics serve education and government sectors across the Western U.S., providing connectivity and technology solutions to enhance productivity and efficiency. Tek-Hut, Inc. was founded in 2001 and grew to support more than 200 districts across the U.S. By adding Tek-Hut’s footprint, Fatbeam now provides fiber internet service to more than 73 communities.
“We have great respect for what Tek-hut has built over the last several years and are excited to add their products and services to our growing public sector portfolio.” said Shawn Swanby, Ednetics CEO. “The talent and passion of the Tek-hut team will be a valuable addition as we continue to invest in Idaho and the Western US.”
Tek-Hut founders Nate Bondelid and Dallas Gray will be consulting with Fatbeam and Ednetics in the near term, while both eventually intend to pursue other opportunities after the transition.
“When we started Tek-Hut twenty years ago, we saw opportunities to improve how people work and stay connected through technology,” noted Bondelid. “We grew to become a technology leader within and beyond Idaho thanks to the strength and talent of this team, which is a staggering achievement for which we are very grateful. While Fatbeam and Ednetics helped sharpen us as competitors, they share our admiration for those we serve, particularly in the education space, and we believe this is a great fit for everyone involved.”
The acquisition was finalized when the FCC recently completed its review and approval of a license transfer. The acquisition agreement between the three companies was reached in late 2020.