USConnect to be Acquired by ITC
May 19, 2021 (Bedford, NH) – USConnect Holdings, Inc. (USConnect) announced today that it
has entered into a definitive agreement to be acquired by West Point, GA-based ITC Broadband
Holdings, LLC (ITC).
“We are thrilled to join ITC,” said Deborah Rand, CEO of USConnect. “We share the same values
regarding our commitment to employees, customers and the communities we serve. Broadband
services are more critical than ever as customers have an increased need for remote learning, work
from home and telemedicine. Adding ITC’s vast expertise and capital will enhance our ability to
extend out our fiber presence in our own communities and to additional underserved areas.”
“We are truly excited to be partnering with the entire USConnect team as we bring the 125 years
of telecom operating experience we have at ITC and our deep resources to aggressively grow the
USConnect business going forward” said Jerry Elliott, the CEO of ITC. “This transaction with
USConnect is just the beginning of the ambitious growth plans we have at ITC to bring gigabit
fiber-driven true high-speed internet to unserved and underserved Americans. As a family-owned
business in a rural area ourselves, we identify very closely with the USConnect team and
Americans in rural areas.”
“I am also especially pleased to announce that both Deb Rand (CEO of USConnect) and David
Shipley (COO of USConnect) will continue to lead USConnect in to a new phase of growth and
expansion. Deb, David and all the current USConnect team members will continue to provide to
our customers and rural communities the same outstanding service and affordable prices they have
been offering for many years.”
The transaction is expected to close in the third quarter of 2021, subject to customary regulatory
approvals. Terms were not disclosed.
ITC, headquartered in West Point, Ga., traces its origins to 1896 and over the last 31 years has a
solid track record of creating and growing large and successful telecom and internet companies.
USConnect was formed in 2013 as a platform to promote and facilitate collective efforts to realize
growth and efficiencies through acquisitions, develop collaborative initiatives to leverage the
collective size and industry expertise of USConnect and its owners, and advocate for the future success and viability of rural and community-based communications providers. USConnect owns
seven rural broadband properties and Beaumont, Texas-based CMS IP Technologies.