Overland Park-based Rural Broadband Investments has purchased the city cable system serving Poplar Bluff, Mo.
The purchase price was not disclosed.
The Poplar Bluff cable system was launched by the city in 2001, but “it is becoming more and more difficult for small cable providers to keep up with...technology at an affordable rate,” Popular Bluff Mayor Ed DeGaris said in a statement. “The city...has a golden opportunity to provide enhanced cable and internet services to its citizens through the sale of our system to a quality provider.”
Rural Broadband, headquartered at 8500 W. 110th St., was formed in 2012. It acquires and invests in primarily rural cable systems that serve residential and commercial customers in small to mid-sized markets.
Since April 2013, the company said it has made five acquisitions to build a base of 300,000 to 400,000 cable subscribers. Rural Broadband said it now serves about 150,000 customers and a territory of more than 430,000 homes in Illinois, Indiana, Missouri, Arkansas, Louisiana, Mississippi, Texas and Nevada.
“The Poplar Bluff system is an excellent add-on to our southern Missouri footprint,” Phil Spencer, chief executive of Rural Broadband said in a statement.
The company provides services through several high-speed broadband systems, including NewWave Communications.
Rural Broadband was formed through a partnership with GTCR, a private equity firm based in Chicago.