Michigan Broadband Services, through its subsidiary Upper Peninsula Telephone Company, agreed to acquire substantially all assets of Northern Michigan University’s Educational Access Network for $21 million.
The transaction includes licensed 2.5 GHz Educational Broadband Service spectrum covering portions of 41 counties, Nokia AirScale radio equipment deployed across more than 70 tower sites, and licensed microwave facilities with related infrastructure. The acquired network generates approximately $2.5 million in annual revenue and serves 7,500 subscribers.
Michigan Broadband operates a fiber network spanning more than 2,500 miles across northern Michigan. The company intends to upgrade the newly acquired network from 4G LTE to 5G, expand fiber and microwave backhaul, and increase speed, capacity, and geographic reach. Strategic wholesale partnerships are also under consideration to offer mobile voice and data alongside fixed broadband, fiber, and enterprise services.
Northern Michigan University students and faculty will retain complimentary access to the Educational Access Network following the transaction. Funding for the deal will be provided through federal BEAD grant proceeds and financing from the National Cooperative Services Corporation.
The acquisition remains subject to customary closing conditions, including regulatory approvals, third-party consents, and compliance with federal funding-program requirements.
