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Iowa Telecom completes purchase of Minnesota company
Special to the Daily News
Newton-based Iowa Telecom completed its acquisition of Bishop Communications Corporation, headquartered in Annandale, Minn., for the purchase price of approximately $43.9 million.
Bishop Communications is a privately held holding company whose operations include the Lakedale Telephone Company, a rural telecommunications provider covering 378 square miles in central Minnesota.
The acquisition was completed on Friday.
“Lakedale Telephone Company and other Bishop Communications customers will continue to experience high quality telephone, Internet and television services from the same friendly, knowledgeable staff,” said Alan L. Wells, Chairman and CEO of Iowa Telecom in a press release. “Bishop Communications is a
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