Midco has signed an agreement to acquire the WOW! Internet, cable and phone system in Lawrence, Kansas, the company said.
The deal signals Midco´s entry into Kansas, where the company will serve more than 30,000 customers in Douglas, Leavenworth and Wyandotte counties.
WOW! Lawrence is the area´s premier residential and commercial communications company. Prior to 2010, the provider operated as Sunflower Broadband, an independent, locally owned company with a strong legacy dating to 1970. As of 2016, WOW! Lawrence passes 67,000 homes and businesses.
Midco currently provides telecommunications, data center and managed services, and advertising solutions to more than 350,000 customers in Minnesota, North Dakota, South Dakota and Wisconsin. Midco also owns and operates Midco Sports NetworkÂ®, an award-winning sports channel covering regional college and high school sports. In addition to the WOW! telecommunications holdings, Midco will purchase WOW! Channel 6, Lawrence´s only local TV broadcaster.
The transaction is subject to regulatory approval and is expected to close within the next few months. Midco´s financial advisor for the acquisition is Wells Fargo Securities, LLC, and its legal advisor is Stinson Leonard Street, while Kirkland & Ellis LLP and SunTrust Robinson Humphrey Inc. acted as legal and financial advisors, respectively, to WOW!.
Founded in 1931, Midco provides Internet and networking, cable TV, phone, data center and managed services, home automation and advertising services in the Upper Midwest. More than 350,000 residential and business customers count on Midco services in 335 communities in Minnesota, North Dakota, South Dakota and Wisconsin.
WOW! is a broadband provider, with a service area that passes over three million residential, business and wholesale consumers.