OPELIKA, Ala. (Oct. 16, 2018) – The City of Opelika and Point Broadband jointly announced today the signing of a definitive agreement whereby the City of Opelika (“Opelika”) will sell its fiber telecommunication assets and operations (“OPS ONE”) to Point Broadband. The transaction is expected to close on Nov. 8, 2018.
Opelika built a state-of-the-art fiber network in 2012 to provide the businesses and residences in its municipal city limits with competitive internet, voice and video services, and was a pioneer in fiber technology. According to Opelika Mayor Gary Fuller, the time has come to divest these assets, and this agreement is a win for the city, a win for the businesses and residents of Opelika, and a win for the surrounding communities that have been unable to get competitive telecommunication services.
“The fiber network we built and operate has allowed us to achieve our goal of bringing the much needed and effective competitive telecom services to our community,” Mayor Fuller said. “The fiber project also facilitated the deployment of a smart electrical grid to provide more efficient power services to the businesses and homes in Opelika. We believe now is the right time to transition the telecommunication assets away from the city and into the hands of an experienced, local telecommunications company with a long history of providing competitive and innovative telecom and fiber services to cities similar to Opelika. This transaction allows us to maintain the electrical smart grid assets and divest of the telecommunications assets, all while being made whole financially on the city’s investment.”
All OPS ONE employees will transfer to Point Broadband with the same positions and salaries. Employees will be offered a competitive benefits package as well. The only immediate change for current OPS ONE customers will be the name change to Point Broadband. All plans and rates will remain the same as a result of this agreement. In addition, there are no changes to programming or local channel coverage. Point Broadband will share the same building with Opelika Power Services, so customers will experience a seamless transition. Customers will be able to pay their bills and add or make changes to their service in the same location if they prefer to do this in person.
Todd Holt, CEO of Point Broadband and its parent company ITC Capital Partners, said “we are happy to welcome the OPS ONE team to the Point Broadband and ITC family, and are excited about serving the Opelika community and surrounding areas.”
“We are so pleased to be in a position to continue the great work started by the city of Opelika in bringing state-of-the-art fiber services to the community,” Holt said. “Many of our existing Point Broadband and ITC employees live, shop and play in Opelika, and we are excited to be serving this home town. It’s amazing what can be done these days with a robust fiber network, and we are looking forward to bringing the latest in broadband services to Opelika and surrounding areas.”
About Point Broadband
Point Broadband, headquartered in West Point, Ga., is a subsidiary of ITC Capital Partners, LLC. ITC has a century long history of providing innovative communication solutions to its customers, with a focus on meeting the needs of the communities we serve. We’re committed to providing fast, reliable Internet, voice and video service to help our customers connect with friends and family, stream music and TV service, allow businesses to connect with more customers and just simply make life better.