All Tek-Hut employees involved in the transaction are expected to continue in a similar role within their new organization.
"This is ultimately a success story of three Idaho-based technology companies with a common commitment to improving the connectivity and efficiency of Idaho schools, governments and businesses," said Paul Merritt, CEO, Fatbeam. "Today marks a new chapter for each of our companies, with a bright future ahead."
Both Fatbeam and Ednetics serve education and government sectors across the Western U.S., providing connectivity and technology solutions to enhance productivity and efficiency. Tek-Hut, Inc. was founded in 2001 and grew to support more than 200 districts across the U.S. By adding Tek-Hut's footprint, Fatbeam now provides fiber internet service to more than 73 communities.
"We have great respect for what Tek-hut has built over the last several years and are excited to add their products and services to our growing public sector portfolio." said Shawn Swanby, Ednetics CEO. "The talent and passion of the Tek-hut team will be a valuable addition as we continue to invest in Idaho and the Western US."
Tek-Hut founders Nate Bondelid and Dallas Gray will be consulting with Fatbeam and Ednetics in the near term, while both eventually intend to pursue other opportunities after the transition.
"When we started Tek-Hut twenty years ago, we saw opportunities to improve how people work and stay connected through technology," noted Bondelid. "We grew to become a technology leader within and beyond Idaho thanks to the strength and talent of this team, which is a staggering achievement for which we are very grateful. While Fatbeam and Ednetics helped sharpen us as competitors, they share our admiration for those we serve, particularly in the education space, and we believe this is a great fit for everyone involved."
The acquisition was finalized when the FCC recently completed its review and approval of a license transfer. The acquisition agreement between the three companies was reached in late 2020.
About Fatbeam
Fatbeam is a business-to-business provider of reliable fiber-based network solutions to education, enterprise, healthcare, government and carrier customers across the western US. With over 52,000 fiber miles connecting more than 70 markets across 8 states, Fatbeam's resilient infrastructure is the best choice for customers requiring high bandwidth and speed for their daily operations with options ranging from Dedicated Internet Access (DIA) to high-capacity dark fiber infrastructure. For more information about Fatbeam, please visit www.fatbeam.com.
About Ednetics
Ednetics brings advanced technology services and solutions to education and public sector communities across the western United States. The company focuses on opportunities to improve education and government settings through network, communications, physical security, storage, and facilities architectures. The Ednetics team believes that when people have access to environments supportive of connection, information flow, and learning they can be inspired to do great things. For more information, visit https://www.ednetics.com.
Media Relations Contact
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SOURCE Fatbeam, LLC
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Fatbeam, Ednetics Complete Acquisition of Tek-Hut - PRNewswire - PRNewswire
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