NEW GLOUCESTER, Maine (April 27, 2022) – OTELCO announced today that it has rebranded as GoNetspeed. The change comes after the brand has spent the past year merging with like-minded organizations that have united under a singular vision: connecting communities by providing the best broadband possible to customers.
Richard Clark, President and CEO of OTELCO, will continue to serve as CEO of GoNetspeed and is based in the New Gloucester, Maine location.
“This is an exciting time for OTELCO, GoNetspeed, and the family of brands that has been joining forces over the past year,” said Clark. “These companies have built real and meaningful relationships with the customers they serve. We may have a new name and a new look, but we’re still committed to delivering the highest standard in communication technology.
Clark continued, “There’s strength in numbers, which is why we brought all of these legacies together, pairing years of experience and service with a new wave of communication technology. We don’t just offer connectivity. We’re building for the future. As part of the GoNetspeed family, we’re able to invest more, reach a wider footprint, and coordinate our internal teams to best serve our customers. This is an exciting time for GoNetspeed as we get ready for what comes next.”
Over the past twelve months, the brands have restructured their senior leadership team and unified branding and marketing. GoNetspeed is investing nearly $200 million to build out approximately 2,000 miles of fiber Internet to 200,000 locations across multiple states. This technology is designed to provide symmetrical upload and download speeds at the fastest speeds available directly to homes and businesses.
In Maine, nearly 550 miles will be built by the end of 2022 to reach more than 57,000 homes.
To accommodate for this growth, the company has plans to hire for as many as 200 positions across its markets. In Maine, there are currently 94 positions open.
As part of the name change, OTELCO has released a new company logo and launched a new website at gonetspeed.com.
GoNetspeed has construction plans mapped out through 2022 and citizens can check availability and sign up for priority installation by visiting https://www.otelco.com/lp/GNS-Maine/. Even those who may not be eligible for service should enter their information to be notified of future builds in their area.
Why GoNetspeed?
The rebrand follows OTELCO’s April 2021 acquisition by Oak Hill Capital, a private equity firm with a portfolio of fiber-to-the-premises companies. Oak Hill acquired Otelco Inc. for $11.75 per share in cash, representing a total equity purchase price of approximately $40.6 million. Oak Hill is bringing together its portfolio, including OTELCO, Lantek, GoNetspeed, Icon Connections Incorporated, Ontario & Trumansburg Telephone Companies (“OTTC”) and Upstate Fiber Networks, under the GoNetspeed brand.
Oak Hill is an experienced investor in the fiber-to-the-premises space with investments including GoNetspeed, a fiber-to-the-premises operator serving residential and business customers in Pennsylvania and Connecticut, and Lantek Fiber Optic Services, Inc. (“Lantek”), a fiber construction company. Oak Hill’s acquisitions of OTELCO, GoNetspeed, and Lantek bring together the talent and resources to accelerate fiber network deployment throughout their combined footprint.
OTELCO, OTTC and Upstate Fiber Networks have been working independently toward a shared goal to better connect their communities but brand names were specific to narrow markets. Meanwhile, GoNetspeed has strong brand recognition in Connecticut, where communities that have already benefited from its investments in fiber technology and its exceptional customer service.
What is fiber Internet?
Fiber Internet offers symmetrical speeds, meaning that both download and upload are equally fast. The connectivity challenges that people experience with using video conferencing associated with telecommuting, online learning and telemedicine have emphasized the importance of fast upload speeds. GoNetspeed offers the fastest residential Internet speeds available, ranging from 150 Mbps to 1 Gbps (1,000 Mbps). For businesses, GoNetspeed can customize speeds beyond Gigabit capability if necessary.
About GoNetspeed
GoNetspeed is a fiber-to-the-premises Internet Service Provider, originally serving residential and business customers in Connecticut and Pennsylvania, announced in January 2021 that it has formed a new partnership with Oak Hill Capital (“Oak Hill”) which will allow GoNetspeed to accelerate the expansion of its fiber network throughout the Northeastern U.S. to include New York, Maine, Massachusetts, Vermont, Alabama, and Missouri.
Since 2017, GoNetspeed has constructed infrastructure to deliver high-speed fiber internet to communities in and around Hartford, New Haven, and Fairfield counties in CT, as well as Beaver County and surrounds in PA. Going forward, GoNetspeed continues to expand its Fiber to the Home network, adding thousands of new locations every year. For more information on the company, or to inquire about service in your residence or community, please visit https://www.otelco.com/lp/GNS-Maine/.
MEDIA CONTACT:
Marnie Grumbach, Fluent IMC, 207.749.9666 marnie@fluentimc.comEmily Broadbent, Fluent IMC, 570.510.1790 emily@fluentimc.com