MANKATO, Minn., Apr 26, 2010 (BUSINESS WIRE) –HickoryTech Corporation (Nasdaq: HTCO) today announced the expansion of its fiber-optic network to Sioux Falls, S.D. and Fargo, N.D. The network expansion to Sioux Falls and Fargo will add 350 fiber route miles to HickoryTech’s existing 2,400 fiber route miles. These initiatives are evidence of the company’s commitment to grow its Enventis business services and provide cost-effective, high-capacity fiber-based solutions.
HickoryTech has made significant investments in its fiber and broadband network over the past several years and already provides high-capacity fiber and business services in many of the major business markets in Minnesota. Most recently, the company increased the capacity of its network between Minnesota and Des Moines, Iowa and is investing in local fiber infrastructure in Des Moines to grow its Enventis business services.
“We are very pleased to announce the expansions of our fiber network, which is a key aspect of our growth plans,” said John Finke, president and chief executive officer of HickoryTech. “This extension of our network will allow us to further grow our Enventis fiber and data services revenue, which increased 30 percent in 2009. We expect continued growth in this line of business in the foreseeable future.”
Leveraging DWDM technology and 10 Gbps optical technology with the network expansion to Sioux Falls and Fargo, as well as the increased capacity to Des Moines positions Enventis as a competitive multi-state network provider and supports the ongoing growth of telecommunications across the upper Midwest.
“These routes will offer our customers an alternative solution for connections to these growing markets and leverage other regional hubs on the HickoryTech network,” said Walt Prahl, president of HickoryTech’s Wholesale Solutions and Business Development division. “Our multi-state fiber network gives us an important advantage in delivering more value in both services and pricing to our customers.”
HickoryTech’s outlook for its 2010 capital spending is targeted in the range of $22 million to $26 million.
Enventis specializes in providing integrated communication solutions for businesses of all sizes and regional and national service providers. Enventis provides high-capacity fiber and data services, managed and hosted services, and professional support services addressing a business’s ever-growing dependence on integrated IT systems that demand highly-available networks. To learn more about Enventis, visit www.enventis.com.
