All about expansion
RiverStreet has never shied away from using M&A as a tool for expansion. The company serves customers in over 68 counties across five states, primarily in North Carolina and Virginia.
During its 65-year history, the service provider has continued to acquire other regional service providers. Over the past ten years, it has purchased 13 companies.
By acquiring Floyd, VA-based Citizens Telephone Cooperative, RiverStret expands its reach within Virginia, targeting new customers in Craig County.
Eric Cramer, President and CEO of RiverStreet, said, "This acquisition represents an exciting opportunity to strengthen our presence in the Amelia and Craig County markets."
Bolstering fiber connectivity
In addition to these acquisitions, RiverStreet is conducting a multi-phased initiative to bring gigabit-capable fiber broadband services to 14 additional counties in South Central Virginia.
The service provider currently passes 26,000 locations with fiber and is on track to pass an additional 48,000 locations in the next three years. In total, RiverStreet plans to pass 74,000 locations with fiber.
RiverStreet said that TDS and Citizens Cablevision will receive more information about the transition and timeframe in the coming weeks.
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