Des Moines is Latest MetroNet Gigabit Market Posted on Share
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MetroNet will deploy a gigabit fiber network in Des Moines. It’s the third project – and second in Iowa that the company has announced this month.
The service provider says it will invest about $70 million to fully fund the project, which will serve businesses and residential customers with a symmetrical gigabit network. Construction activities will begin immediately, with physical construction slated for the fall. Customer installations will begin next spring.
MetroNet, which is headquartered in Evansville, IN, says it will build a retail storefront in Des Moines and hire local personnel for a variety of positions. It will inform residents by mail of construction 30 day prior to the start and will otherwise keep residents informed of progress.
MetroNet Announces New Investments from Oak Hill Capital and KKR
New Funding will Accelerate Deployment of Fiber-Based High Speed Broadband Networks to Communities Across the U.S.
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EVANSVILLE, Ind., April 21, 2021 /PRNewswire/ MetroNet today announced that funds managed by leading global investment firm KKR will be joining long-time partner, Oak Hill Capital, and management as investors in MetroNet. As part of the transaction, Oak Hill and KKR will each make new investments to help accelerate MetroNet s growth in building and connecting fiber-to-the-premise (FTTP) data, television, and telephone services to homes and businesses. This year, MetroNet launched services in its 9
MetroNet Announces New Investments insideindianabusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insideindianabusiness.com Daily Mail and Mail on Sunday newspapers.
Oak Hill Capital and KKR Back Metronet
Funds managed by global investment firm
KKR and long-time partner,
Oak Hill Capital, and management, have invested in
MetroNet. As part of the transaction, Oak Hill and KKR will each make new investments to help accelerate MetroNet’s growth in building and connecting fiber-to-the-premise data, television, and telephone services to homes and businesses.
“We value our long-standing partnership with Oak Hill and are proud to welcome our new investors at KKR,” said
John Cinelli, MetroNet CEO. “The additional investments from Oak Hill and KKR will drive growth that further bridges the digital divide by providing hundreds of thousands of additional households access to world class and future proof 100 percent fiber optic services for living, learning, and connecting to each other. We look forward to maintaining our commitment to excellence in serving our customers and communities.”
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MetroNet and the City of Ankeny today announced a partnership that will bring MetroNet s 100 percent fiber optic internet, TV and phone to businesses and residents. As part of the agreement, MetroNet will invest more than $15 million in the city and surrounding community while bringing fiber-to-the-home directly to residents. The demand for high-speed fiber optic internet continues to be strong in Ankeny and adding MetroNet to the mix of providers gives residents another option, said City Manager David Jones. MetroNet is pursuing an aggressive schedule for building its network in Ankeny, which will require coordination with city staff. No taxpayer funding is involved in the buildout as this is a private infrastructure investment.