KeyOn Communications Holdings, a broadband wireless provider targeting rural areas, has completed its acquisition of the assets of Dynamic Broadband Wireless, expanding its coverage in Iowa and adding parts of Minnesota.

According to KeyOn, its network now covers approximately 55,000 square miles and can reach nearly 3 million people—and both of those numbers are expected to grow as the company continues with its aggressive plan to buy up wireless broadband companies, through its Rural UNIFi initiative. The company has made several acquisitions since late 2009.

KeyOn also could see its network expand if it is successful with any of the 16 applications it made to the Rural Utilities Service BIP in the second round of the broadband stimulus program. The Round 2 applications seek to build WiMax networks in about 20 southern, western and midwestern states, requesting a total of nearly $250 million in grants and about half that amount in loans. The company made several applications in Round 1 without success.

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