Articles Tagged: Press release

OTELCO welcomes new employees in multiple Maine offices

OTELCO is pleased to welcome a number of new employees in Maine. Marc Vanderwood joins OTELCO as Director of IT in the company’s New Gloucester office. Vanderwood has a Bachelors of Business Management degree from the University of Alaska Fairbanks and has been in IT Management for over 20 years. He is a resident of Oxford. Also in New Gloucester, Michael Fontaine joins OTELCO as a Financial Analyst. Fontaine has his Master’s in Finance and before joining OTELCO was a… Read more »

OTELCO agrees to be acquired by Oak Hill Capital

Otelco Inc. (Nasdaq: OTEL) (“Otelco” or the “Company”), a wireline telecommunication services provider in Alabama, Maine, Massachusetts, Missouri, New Hampshire, Vermont and West Virginia, announced today that it has entered into a definitive agreement to be acquired by affiliates formed by Oak Hill Capital (“Oak Hill”), a private equity firm, for $11.75 per share in cash, which represents an equity purchase price of $40.6 million and an enterprise value of $105.7 million. As part of… Read more »

OTELCO receives funding to build Fiber to the Premise in Morgan City, AL

OTELCO has received funding from the Alabama Department of Economic and Community Affairs (ADECA) Broadband Accessibility Fund (ABAF) to build Fiber to the Premise to Morgan City. The grant provides $619,500 to augment an OTELCO investment of $1,150,500 that will deliver Fiber to the Premise (FTTP) to approximately 1,650 locations that are currently receiving speeds that do not meet the FCC standard of 25/3. The new technology provided by OTELCO will deliver speeds of 100… Read more »

OTELCO receives grant to expand access to fiber Internet in Argyle, ME

OTELCO has received an $81,250 grant from the ConnectME Authority. This grant is a key piece in addition to $162,500 in OTELCO investment and $81,250 in Penobscot County TIF funds to build Fiber to the Premise (FTTP) to the unorganized territory of Argyle. OTELCO estimates the project will be completed by the end of the year, providing speeds of 100/100, 300/300 and 1Gbps/1Gbps to residents of Argyle. The new network will service 134 locations in… Read more »

OTELCO invests in fiber optic technology to serve portions of Orwell and Cornwall

OTELCO has completed 2 network upgrade projects in its Shoreham service area. In the Singing Cedars area of Orwell, the company upgraded the connection to its remote with fiber optic cable. The ‘remote’ is the junction point that distributes the Internet signal to the individual homes in the vicinity. This upgrade ensures that the signal is the fastest possible when distributed to the homes served by that remote. Subscribers served by what OTELCO calls the… Read more »