Verizon to expand Iowa wireless coverage by acquiring Iowa partnership interests
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BASKING RIDGE, N.J. Verizon has entered into an agreement to acquire the interests in the Iowa RSA 2 Limited Partnership, currently held by Interstate Enterprises, Ltd., Grand River Communications, Inc. and Cellular 35, Inc. When combined with the minority interest that Verizon currently holds, this acquisition will give Verizon 100% ownership of the partnership. The partnership provides wireless services in the Iowa RSA 2 market, consisting of Clarke, Decatur, Lucas, Ringgold, Union and Wayne counties, covering a population of approximately 51K. The acquisition is subject to FCC approval and other conditions and is expected to close in fall of 2020.
Steven Smith, Verizon Senior Vice President of Corporate Finance, said “Verizon is very pleased to announce this transaction. This acquisition aligns with our strategic business objectives and reflects our ongoing commitment to offering rural communities the very best mobile networks.”
The partnership that Verizon will be acquiring is one of two partnerships that do business under the name Chat Mobility. The other partnership operates in the Iowa RSA 1 market, consisting of Adams, Fremont, Mills, Montgomery, Page, and Taylor counties. Verizon will be acquiring only the partnership that does business in the Iowa RSA 2 market (“Chat Mobility-RSA 2”).
In the Iowa RSA 2 market, Verizon will continue to use the Chat Mobility brand for several months following the transaction closing as it works to integrate networks and provide high-speed wireless broadband service.
Chat Mobility- RSA 2 customers do not need to take any action at this time. Customers will receive information regarding the acquisition and the array of services that will be available from Verizon, including wireless data services delivered on the nation’s most awarded 4G high-speed wireless broadband network.
Chat Mobility- RSA 2 customers’ current service plans, prices, and features will remain the same until they transition to Verizon, which is expected to happen late this year. Customers will be notified of any changes that may impact their service. Since Verizon and Chat Mobility use the same technology platform, the vast majority of Chat Mobility- RSA 2 customers will be able to retain their current mobile device.