MetroNet, a provider of fiber-optic internet, TV and phone service, on Thursday announced the acquisition of Owatonna-based Jaguar Communications, a fiber optic internet company serving Owatonna, Faribault, Mankato, Rochester and other southern Minnesota communities.
Jaguar Communications currently serves Carver, Scott, Dakota, Nicollett, Le Sueur, Rice, Blue Earth, Waseca, Steele, Dodge, Olmsted, Freeborn and Mower counties in Minnesota with Gigabit speed internet. This acquisition will allow MetroNet to leverage Jaguar’s fiber optic infrastructure to provide these markets with MetroNet’s products. Jaguar customers will continue to benefit from gigabit internet speeds options with no data caps, full-featured fiber phone service, and fiber IPTV.
The combination of the two companies allows MetroNet to expand its ultra-high-speed fiber optic footprint to residential and business customers across the Midwest. MetroNet is expecting to invest an additional $150 million or more in growing the Minnesota market to expand services to additional communities and neighborhoods.
Terms of the deal were not disclosed. The transaction was officially completed Wednesday.
“Jaguar Communications shares our vision of providing customer-focused, fiber optic telecommunication services to homes and businesses,” said MetroNet President John Cinelli. “As we grow our fiber optic network in Minnesota, Jaguar Communications is a perfect fit. We look forward to fully integrating as a company, and we welcome them into the MetroNet family.”
“Over the years, Jaguar Communications has proudly served southern Minnesota and an agreement with MetroNet just made sense. This merger is the right next step to better serve our customers and provide further opportunities for our employees”, stated Jim Ward, owner of Jaguar Communications. “This acquisition means accelerated expansion in Minnesota, reaching more residents and businesses that are eager for ultra-high-speed fiber optic services.”
The two companies are expected to fully integrate under the MetroNet brand in the months to come, and plan to integrate all MetroNet product line features in early 2021.