OMAHA, NE (August 5, 2010) — KeyOn Communications Holdings, Inc. (OTCBB: KEYO), one of the largest providers of wireless broadband, satellite video and voice over Internet protocol (VoIP) services in the United States, announced today it has completed the acquisition of substantially all of the wireless broadband assets of SouthWest Wireless Net, extending the company’s network footprint in southwestern Minnesota.
New Vision Co-Op, a rural cooperative in Minnesota, recognized that there were very few available options for broadband in the areas its serves. As a result, New Vision created SouthWest Wireless Net in order to provide its constituents with vital broadband services. SouthWest Wireless Net is KeyOn’s third acquisition of broadband assets from regional cooperatives who have deployed wireless networks in effort to provide additional valued services to their members and constituents.
The SouthWest Wireless Net acquisition was completed as part of KeyOn’s Rural UniFi acquisition program, a strategic acquisition initiative designed for independent wireless broadband companies to realize immediate value from their networks by combining with KeyOn. The acquisition of SouthWest Wireless Net is KeyOn’s fifth in 2010 and tenth overall.
Jason Lazar, KeyOn’s Vice President of Corporate Development and General Counsel, stated, “The purchase of SouthWest Wireless Net increases our footprint in Minnesota, adds to our top-line revenues and contributes positive EBITDA immediately. The transaction allows SouthWest’s parent company, New Vision Cooperative, to focus on its core grain, feed and agronomy businesses while confidently transitioning its wireless broadband customers to a leading and quality provider of wireless broadband service.”
Interested wireless broadband operators can visit KeyOn’s unique initiative through the company’s website (www.keyon.com/ruralunifi.html) where they can receive more information and begin the qualification process.
