Midwestern broadband service provider Midco has confirmed the sale of its towers assets to K2 Towers.
In a statement, the company revealed it's completely exiting the tower business.
The firm didn't disclose the financial terms of the transaction, nor did it state how many towers it had sold.
"This transaction allows Midco to concentrate on our core broadband business, ensuring that our customers continue to receive Midco’s award-winning service,” said Steve Bruch, senior director of corporate development at Midco. “I would like to thank K2 Towers and Southern Tower Consulting. Both were great partners throughout this process."
Midco offers broadband services to its customers via hybrid fiber coax (HFC) cable, fiber-to-the-home, and fixed wireless access (FWA). The company serves around 500,000 homes and businesses in 400 communities in Kansas, Minnesota, Nebraska, North Dakota, South Dakota, and Wisconsin.
Midco will still lease the towers from K2 Towers, as it requires access to the infrastructure in order to provide FWA service, which is part of its commitments when it won $39 million in Connect America Funds (CAF II) from the government in 2018. The towers are located in Minnesota, North Dakota, South Dakota, and Wisconsin.
According to Ohio-based K2 Towers' website, the company has invested in over 5,000 communications towers in the past decade.
Back in 2018, Midco opened a $5.5 million data center in Grand Forks, North Dakota.
As well as cable, telephone, and consumer Internet services, the facility also provides colocation space and both public and private fiber access. The data center spans 6,500 square feet (603 sq m).
