Boston Omaha Corporation, through its wholly owned subsidiary FIF Utah, has completed its previously announced acquisition of Utah Broadband (UBB), a family-owned broadband fibre and fixed-wireless ISP. Steve McGhie will continue as CEO and retain a 20% initial ownership stake as he continues to guide Utah Broadband’s next phase of growth. The purchase price is USD21.6 million in cash, subject to certain working capital and other adjustments.
Founded in 2002, UBB provides high-speed internet services to its well over 10,000 customers throughout Salt Lake City, Park City, Ogden, Provo and surrounding communities. The definitive deal was first announced on 17 December 2020 and has closed within a matter of weeks.
TeleGeography notes that UBB becomes Boston Omaha’s second notable telecoms acquisition, after the March 2020 takeover of AireBeam, which provides fibre-to-the-home (FTTH) and fixed-wireless services in rural parts of southern Arizona.