$40 million iProvo deal done
PROVO (AP) — The sale of Provo's troubled fiber-optic network is finally done.
Broadweave announced today that its $40 million purchase of iProvo is complete.
The network was believed to be the largest municipally built and owned system in the country. But it soon ran into trouble, going millions of dollars into the red for several years. Faced with that debt, the city began looking at options last year, including the possibility of a sale.
The complex deal with Broadweave took several months to complete.
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Recent comments
Ditto. The citizens of Provo lose again with this administration…
To: A Deal | Sept. 4, 2008 at 11:13 a.m.
Who is this a deal for? The citizens of Provo? No, now that over…
A Deal for Who? | Aug. 30, 2008 at 10:48 p.m.
