Broadband and technology company Nex-Tech is set to acquire broadband and telephone service provider Moundridge Communications Network for an undisclosed sum. The deal is expected to close in July 2022.
This is technology M&A deal number 389 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.
Moundridge Communications Network, founded in 1904, is one of the oldest operating telephone companies in Kansas. The family-owned company provides Internet and telephone services to customers in the Kansas communities of Moundridge and Goessel. The Moundridge Communications Network local office will remain in Moundridge to provide local support to customers, the buyer indicated.
Nex-Tech Buys Moundridge: Executive Perspectives
Harry Weelborg, CEO and President, Moundridge Communications Network, commented:
"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. 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."
Jimmy Todd, CEO and General Manager, Nex-Tech, said:
"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. 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"
Nex-Tech M&A Experience
Nex-Tech has M&A experience. Earlier deals have included:
- May 2021: Acquired Vic Innovations of Atwood, Kansas, for Internet, voice services, web hosting services and computer repair capabilities.
- September 2019: Acquired network solutions provider Cordell.