ImOn Communications (ImOn), a broadband company based in Eastern Iowa, today announced that it has signed definitive documentation to be acquired by Goldman Sachs Asset Management’s infrastructure investing business.
As part of the transaction, Goldman Sachs Asset Management will make new investments to help accelerate ImOn’s growth in FTTP data, video, and voice services to homes and businesses throughout eastern Iowa and surrounding markets.
ImOn was founded in 2007 as a single-market cable provider and has transformed into a regional fiber-to-the-premise platform that currently owns and operates a 2,000+ mile network that reaches over 60,000 households and businesses.
“The ImOn team is thrilled to be working with Goldman Sachs. The ImOn difference is our high-quality fiber-optic broadband network, our commitment to providing the highest level of customer service, and our support of the communities we serve, said Patrice Carroll, ImOnfounder and CEO in a release. “Goldman Sachs shares our values and supports ImOn’s vision. They will be a great partner to help us implement our ambitious growth plans.”
The acquisition supports Goldman Sachs’ focus on infrastructure investing, which includes businesses delivering infrastructure that enable more efficient digital solutions and improve connectivity, such as CityFibre, UK’s largest independent Full Fibre infrastructure platform, and Global Compute, a global data center platform.
The deal is expected to close in the first half of 2022 and is subject to obtaining customary regulatory approvals. The terms of the deal were not disclosed.