Mankato telecom Enventis purchased by Illinois company

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By Tim Krohn, Mankato Free Press

“MANKATO — Longtime Mankato-based Enventis [formerly HickoryTech] is being purchased by Consolidated Communications Holdings of Illinois in a $350 million all-stock deal.

Consolidated, one of the largest independent communications companies in the country, will acquire 100 percent of the 13.8 million Enventis shares.”

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HickoryTech changing its name to Enventis

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Via News Release

“MANKATO, Minn.–HickoryTech today announced it has changed its brand to Enventis across the company’s service area. The company will also seek shareholder approval to change its corporate name to Enventis at its shareholder meeting in May 2014.

“We are very excited to announce Enventis as our unified brand representing the wide range of business and residential services and products we offer throughout our service area,” said John Finke, president and chief executive officer of HickoryTech.”

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HickoryTech buying Fargo telecom for $28m

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Via News Release

“MANKATO, Minn. —HickoryTech Corporation (NASDAQ: HTCO) announced today it has entered into a definitive agreement to acquire IdeaOne Telecom Group, LLC, a metro fiber network provider in Fargo, North Dakota, in an all-cash transaction valued at $28 million with routine adjustments for capital expenditures and working capital.”

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HickoryTech grows up

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By Steve Alexander, Star Tribune

HickoryTech (NASDAQ: HTCO), once a 19th-century small-town telephone company, aims to become a 21st-century regional telecommunications firm.

Over the past two decades, the Mankato-based firm has expanded from its local phone company roots to become a statewide provider of business telephone and Internet services over a growing fiber-optic network. The company’s shift to business services was based partly on the assumption — which proved correct — that demand for wired residential phone service would decline while competition for home Internet service and consumer cellphone service would become intense, said John Finke, the CEO.”

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Enventis Breaks Ground on $24 Million Greater Minnesota Broadband Collaborative Project

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Via News Release

“MANKATO, Minn.-Enventis, a subsidiary of HickoryTech (NASDAQ: HTCO), announced it has kicked off its $24 million Greater Minnesota Broadband Collaborative Project which will further extend its middle mile fiber-optic network across greater Minnesota.

The fiber network will improve high-speed Internet access in rural communities and connect health care facilities, schools, libraries, higher education institutions and public offices with an advanced high-capacity broadband network.”

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HickoryTech and ValueVision join the Russell 2000 Index

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Via News Release

“MANKATO, Minn.–HickoryTech Corporation (HTCO), an integrated communications solution provider, joined the U.S. small cap Russell 2000 Index, which was reconstituted on June 24.

Annual reconstitution of Russell’s U.S. equity indexes captures and ranks the 4,000 largest U.S. stocks as of the end of May by total market capitalization. Membership in the Russell 2000, which remains in place for one year, means automatic inclusion in the broad-market Russell 3000 Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.”

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Via News Release

“MINNEAPOLIS, MN, Jun 27, 2011 — ValueVision Media, Inc. (VVTV) , a premium interactive retailer via TV, Internet, mobile and social media, operating under the “ShopNBC” brand, today announced its stock was added to the Russell 2000 Index, a subset of the Russell Global and Russell 3000 Indexes, effective after the market close on Friday, June 24, 2011.”

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HickoryTech Reports Q4 Net Income Up 48% Year Over Year

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Via News Release

HickoryTech Corporation (Nasdaq: HTCO) today reported fourth quarter fiscal 2010 operating revenue of $41.8 million, an increase of 9 percent from the $38.3 million reported one year ago. Fourth quarter net income totaled $2.1 million, or 16 cents per diluted share, a 48 percent increase from the $1.4 million, or 11 cents per diluted share, reported in the comparable quarter in 2009.

“Our fourth quarter was as dynamic as the previous two quarters,” said John Finke, HickoryTech’s president and chief executive officer. “We are very pleased with the recent completion of our network expansion to the Dakotas and in Des Moines, Iowa. Additionally, we experienced three consecutive quarters of solid sales volume in fiber and data, equipment and broadband services supporting our growth strategy.”

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$23 million in Minnesota broadband expansion announced by Franken

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via HometownSource.com

“U.S. Sen. Al Franken (D-Minn.) today announced  $23,666,000 in American Recovery and Reinvestment Act funding for three broadband projects in Minnesota: Sjoberg’s, Inc. ($866k),  Carver County ($6m) and Enventis Telecom (HickoryTech $16.8m).

The funds, administered by the Department of Commerce’s National Telecommunications and Information Administration and the Department of Agriculture’s Rural Utilities Service, will expand broadband access and adoption to areas of Minnesota that are currently underserved.”

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HickoryTech wins VoIP contract for Mankato Area Public Schools

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Via News Release

HickoryTech Corporation (Nasdaq: HTCO) today announced it has been awarded a five-year contract to provide SingleLink Unified Communications throughout Mankato Area Public Schools. HickoryTech will install, support and manage the voice over Internet protocol phone system across 20 Mankato Area Public School sites including more than 1,250 phones.”

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HickoryTech is expanding

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By Ann Treacy, Blandin Foundation

“Mankato-based Hickory Tech is expanding to Sioux Falls, South Dakota and Fargo, North Dakota. According to the HickoryTech web site:

The network expansion to Sioux Falls and Fargo will add 350 fiber route miles to HickoryTech’s existing 2,400 fiber route miles. These initiatives are evidence of the company’s commitment to grow its Enventis business services and provide cost-effective, high-capacity fiber-based solutions.”

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