Peoria, Illinois – (BUSINESS WIRE) – i3 Broadband, a leading Midwest fiber-to-the-home (FTTH) provider of 100% fiber-optic broadband service, announced today that it has closed the acquisition of Big River Broadband, primarily a commercial communications company, and its wholly owned subsidiary Circle Fiber, a fiber-optic internet provider serving southeast Missouri communities. The combination allows i3 Broadband to further expand its ultra-high-speed fiber-optic footprint to residential and commercial customers across central Illinois and eastern Missouri. i3 Broadband is expected to invest an additional $100M to grow the southeast Missouri market and provide next generation broadband services to additional communities.
“We are thrilled to have completed this acquisition. Big River Broadband/Circle Fiber shares our vision of providing customer-focused fiber-optic telecommunication services to homes and businesses,” said i3 Broadband CEO Paul Cronin.
“Since our launch in the St. Louis market, we have been looking for a trusted partner to accelerate the growth of our footprint in Missouri. Big River Broadband/Circle Fiber is providing state of the art products and services in southeast Missouri, making it a perfect fit.” Cronin added. “We look forward to working with Big River’s outstanding leadership team, integrating as a company, and welcoming their employees to i3 Broadband.”
Big River Broadband/Circle Fiber currently serves customers in Cape Girardeau, Perry, St. Genevieve, St. Francois, Butler, Washington, Bollinger, and Scott counties in Missouri. The acquisition allows i3 Broadband, based in Peoria, Illinois, to leverage Big River Broadband/Circle Fiber’s network infrastructure and gigabit speed upgrades in these markets as part of the company’s rapidly expanding footprint in the region. Existing Big River Broadband/Circle Fiber customers will continue to benefit from gigabit internet speed options with no data caps, full-featured phone service, and IPTV as i3 Broadband looks to expand those offerings in new neighborhoods in the near future.
“Joining forces with i3 Broadband allows us to accelerate the expansion of the Circle Fiber network into more communities,” said Jerry Howe, Big River Broadband/Circle Fiber’s retiring CEO. Howe adds, “We found i3 Broadband to have the same outlook and approach to bringing the latest communications services to customers, leveraging the exceptional capacity of fiber networks. With the transaction completed, we are excited to work with the i3 Broadband team to expand our footprint and capabilities, tapping into a pent-up demand for our services.”
Lazard served as sole financial advisor to Big River Broadband/Circle Fiber while Polsinelli served as legal advisor and Morgan Lewis served as regulatory counsel. Thompson Coburn served as legal advisor to i3 Broadband.
The transaction closed on May 31, 2023. The two companies will work towards a full integration under the i3 Broadband brand in the months to come.
For more information about i3 Broadband visit www.i3broadband.com or email firstname.lastname@example.org.