Zayo sells Scott-Rice Telephone to New Ulm Telecom

I’m catching up on “old” news from February. Telecompetitor reports…

Zayo Group Holdings, Inc. today announced that it has entered into an agreement to sell Scott-Rice Telephone Co., a Minnesota ILEC (incumbent local exchange carrier), for $42 million to New Ulm Telecom, Inc.

Zayo is moving away from “non-core assets” – New Ulm will grow with the acquisition…

“New Ulm Telecom, Inc. is very excited about the acquisition of Scott-Rice Telephone Co.” said Bill Otis, President and CEO of New Ulm Telecom, Inc. in a statement.  “The additional connections, geographic location and strong relationships with customers position us well to continue our growth strategy.”

New Ulm, Minnesota-based New Ulm Telecom operates several ILECs as wholly-owned subsidiaries, offers a triple play bundle and is a wireless reseller. The closing of the transaction is subject to regulatory approvals and customary closing conditions, and is expected to occur in the June 2018 quarter.

This entry was posted in MN, Vendors by Ann Treacy. Bookmark the permalink.

About Ann Treacy

I have a Master’s Degree in Library and Information Science. I have been interested or involved in providing access to information through the Internet since 1994, when I worked for Minnesota’s first Internet service provider. I am pleased to be a part of the Blandin on Broadband Team. I also work with MN Coalition on Government Information, Minnesota Rural Partners, and the American Society for Information Science and Technology.

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