Midco has entered into an asset purchase agreement to acquire Savage Communications Inc. (SCI), which serves nearly 12,000 customers across Minnesota. With this acquisition, Midco gains additional subscribers and addresses, expected to reach 28,000. This deal, set to close on October 1, 2023, follows a longstanding relationship between the two companies. SCI's President, Ron Savage, believes Midco is the right fit for SCI's growth, especially with Midco's extensive fiber expansion plans. The financial terms of the deal remain undisclosed.
"Over the last few years, I've been debating SCI's future. With our large-scale fiber expansion project nearing completion, I want SCI to continue to grow its footprint and ability to serve customers," SCI Broadband President and founder Ron Savage said in a press release.
Midco chairman and CEO Pat McAdarah says the relationship goes back 25 years. At that time, Midco sold two small systems in Brainerd Lakes, Minnesota, to SCI.
Collection
[
|
...
]