NOME, N.D.–(BUSINESS WIRE)–ICTC Group, Inc. (“ICTC”; OTC Pink ®: ICTG) and BEK Communications
Cooperative (“BEK”) today announced an agreement in which BEK will
acquire ICTC in an all-cash transaction valued at $25 million, or $65.25
per ICTC share.
Dan Miller, Chairman and CEO of ICTC Group, Inc. commented, “This deal
is the culmination of a comprehensive strategic review, and is a
significant milestone for our loyal customers, professional staff, and
ICTC recently began a multi-year investment cycle, utilizing its strong
balance sheet and skilled technical team, to accelerate the deployment
of high-speed broadband and related services. It is expected that BEK
will continue this robust program for the benefit of consumers.
The purchase price represents a premium of 54% from the 2017 average
trading price for ICTC shares of $42.33, and a 170% premium to the 2016
average trading price of $24.17.
Derrick Bulawa, CEO of BEK Communications, added “We are delighted to be
bringing the ICTC community into our cooperative family. This is a
terrific opportunity to leverage our operational presence in nearby
Valley City and to provide broader distribution of our network, media
and cloud products, to a market looking for advanced services.”
The transaction is expected to be completed in the second half of 2018,
pending approval from the Federal Communications Commission.
ICTC will publish its financial results for the second quarter of 2018
in early August.
About ICTC Group, Inc.
ICTC Group Inc. (OTCBB: ICTG) is a publicly traded holding company with
subsidiaries in voice, broadband and other telecommunications services
in North Dakota. To learn more, visit www.ictcgroup.net.
About BEK Communications Cooperative
BEK Communications, founded in 1952, is a communication service company
headquartered in Steele, North Dakota, with branch offices in Bismarck
and Valley City. The company provides fiber-based voice, Internet, and
television services; cloud-based security, automation, surveillance,
voice, and storage services; live sports broadcasting on BEK
Broadcasting Network; and hospital and business communications solutions
to nearly 10,000 customers in North Dakota. The company emphasizes their
fast, friendly, local service experience and a broad portfolio of
high-quality communications services. To learn more, visit www.bektel.com.
Source URL: Read More
The public content above was dynamically discovered – by graded relevancy to this site’s keyword domain name. Such discovery was by systematic attempts to filter for “Creative Commons“ re-use licensing and/or by Press Release distributions. “Source URL” states the content’s owner and/or publisher. When possible, this site references the content above to generate its value-add, the dynamic sentimental analysis below, which allows us to research global sentiments across a multitude of topics related to this site’s specific keyword domain name. Additionally, when possible, this site references the content above to provide on-demand (multilingual) translations and/or to power its “Read Article to Me” feature, which reads the content aloud to visitors. Where applicable, this site also auto-generates a “References” section, which appends the content above by listing all mentioned links. Views expressed in the content above are solely those of the author(s). We do not endorse, offer to sell, promote, recommend, or, otherwise, make any statement about the content above. We reference the content above for your “reading” entertainment purposes only. Review “DMCA & Terms”, at the bottom of this site, for terms of your access and use as well as for applicable DMCA take-down request.
Acquire this Domain
You can acquire this site’s domain name! We have nurtured its online marketing value by systematically curating this site by the domain’s relevant keywords. Explore our content network – you can advertise on each or rent vs. buy the domain. [email protected] | Skype: TLDtraders | +1 (475) BUY-NAME (289 – 6263). Thousands search by this site’s exact keyword domain name! Most are sent here because search engines often love the keyword. This domain can be your 24/7 lead generator! If you own it, you could capture a large amount of online traffic for your niche. Stop wasting money on ads. Instead, buy this domain to gain a long-term marketing asset. If you can’t afford to buy then you can rent the domain.
We are Internet Investors, Developers, and Incubators- operating a content network of several thousand sites while federating 20+ eCommerce and SaaS startups. With our proprietary “inverted incubation” model, we leverage a portfolio of $15M+ in valued domains to impact online trends, traffic, and transactions. We use robotic process automation, machine learning, and other proprietary approaches to power our content network. Discover our work!