ImOn Communications announced May 29 it will acquire Danville Telecom, a move that will accelerate the expansion of fiber-optic internet services across Southeast Iowa, according to a news release.
The Cedar Rapids-based broadband provider has entered into a definitive agreement to make Danville Telecom a wholly owned subsidiary. The deal is subject to regulatory approval and is expected to close later this year.
Danville Telecom, which began operations in 1901 as the Danville Mutual Telephone Company, provides fiber-to-the-home services in Danville and Wever. Through its subsidiary iConnectYou, it also offers broadband services to businesses in Burlington, Fort Madison, Keokuk, Montrose, and West Burlington.
ImOn was founded in 2007 and has grown into a statewide provider of fiber-based internet, television, and phone services. Earlier this year, the company announced plans to build new fiber infrastructure in five Southeast Iowa communities. Company officials said the acquisition will allow ImOn to expand more quickly by leveraging Danville Telecom’s existing fiber assets.
“Joining forces with ImOn Communications marks an exciting new chapter for Danville Telecom and an opportunity to deepen our investment in the communities we’ve proudly served for generations,” said Gena Parsons, chief operating officer of Danville Telecom, in the release.
Patrice Carroll, president and CEO of ImOn Communications, said the two companies are aligned in their approach to network performance and customer service.
“We’re thrilled to welcome the Danville team and look forward to working together to bring state-of-the-art fiber connectivity to more residents and businesses throughout Southeast Iowa,” Ms. Carroll said in the release.
Legal advisors for the transaction included Dentons Davis Brown PC for Danville Telecom and Shuttleworth & Ingersoll, PLC, and Morgan, Lewis & Bockius LLP for ImOn.
Danville Telecom’s acquisition adds to ImOn’s ongoing expansion efforts in the state. The agreement builds on both companies’ local roots and aims to meet increasing demand for high-speed, fiber-optic internet in rural and urban parts of Southeast Iowa.
