Provo City Council Approves Sale of iProvo to Broadweave

The Provo City Council voted 4-3 to approve the sale of the iProvo fiber-optic network to Broadweave Networks, creating the largest private municipal network in the U.S. The acquisition will officially close on June 30, 2008 with Broadweave's service going live July 1, 2008.


Last month, the city of Provo announced an agreement to sell the iProvo fiber-optic network to Broadweave Networks for $40.6 million. The network, now owned by Broadweave, was the largest municipally owned fiber-optic network in the U.S. The acquisition makes Broadweave one of the largest Fiber-To-The-Home (FTTH) network operators in the country with a network that passes 36,000 homes, businesses, government buildings, and schools at speeds up to 1,000 times faster than cable or DSL. Broadweave's acquisition of Veracity Communications garners the company another 3,000 business customers as Broadweave now expands its commercial data, voice, and hosted telephony business.http://www.broadweave.com