Nex-Tech has agreed to acquire Moundridge Communications Network, one of the oldest operating telephone companies in Kansas, for an undisclosed sum.
Pending regulatory approval, the deal is expected to close by July, according to Nex-Tech, which is also based in Kansas. Once the acquisition closes, business customers in Moundridge and the surrounding areas will have access to cloud phone, managed IT, security and surveillance and other services.
Nex-Tech offers fiber-to-the-premise and fiber-to-wireless technologies with speeds up to 1 Gbps, as well as streaming TV, home security, and local and long-distance phone service. For business customers across the country, Nex-Tech offers cloud services, cloud phone, network security, managed IT, physical security and surveillance, advertising solutions, and network operations monitoring.
“We have worked with Nex-Tech for many years, so when we decided to sell the company we reached out to Jimmy and the Management team,” explained Harry Weelborg, CEO and President of Moundridge Communications Network. “This has been a family-owned company, and we want to ensure the customers are taken care of and that the new owner will continue to grow the company and invest in technology; Nex-Tech has this same vision.”
“As we set our strategic growth plans, Nex-Tech considers acquisitions as a great opportunity to expand our footprint by continuing our longstanding commitment to deploy leading-edge technology in the communities we serve, offering advanced services to homes and businesses,” said Jimmy Todd, Nex-Tech CEO and general manager, in a prepared statement. “As a cooperative-based company, Nex-Tech believes in providing high-level customer service and being a strong community partner, much like customers have been accustomed to with the Weelborg and Smith families as owners of the company.”
The planned Nex-Tech Moundridge purchase is one of several in which smaller broadband telecom companies are acquiring other small broadband telecom providers.
