For Immediate Release
April 10, 2017
Michael B. Urdahl, President and Chief Executive Officer of Pinpoint Holdings, Inc. (Pinpoint), has announced that Pinpoint has completed the acquisition of Accipiter Communications (d/b/a Zona Communications). The Arizona Corporation Commission (ACC) recently approved Pinpoint’s private financing for the acquisition which was the final regulatory action needed to complete the sale.
Zona Communications is a local exchange carrier (LEC) that serves a very diverse area northwest of greater Phoenix and includes well known landmarks such as Lake Pleasant and Castle Hot Springs. Zona is also providing Fiber to the Home in neighborhoods such as The Village, Trilogy and Blackstone in Vistancia as well as Sun City Festival, Whispering Ranch and Quintero. Zona Communications serves more than 1100 square miles in Arizona and is poised for growth as greater Phoenix continues to expand its footprint into this area of the valley.
“The purchase of Zona was a very important strategic acquisition for Pinpoint”, Urdahl said. He also noted that Zona’s Fiber to the Home (FTTH) business was a good complement to Pinpoint’s other FTTH projects in Gothenburg, Cambridge and Bartley Nebraska as well as in Milledgeville, GA.
J. Richard Shoemaker, Chairman of the Board of Pinpoint Holdings, Inc., has been affiliated with Pinpoint for more than 30 years. He commented, “Pinpoint has had some very important acquisitions during its history but this is definitely one of the most exciting opportunities we have ever pursued”. Shoemaker added, “The growth potential in the Northern Valley around Phoenix is phenomenal. Over the next 10-15 years we are anticipating explosive growth in this area”.
Patrick Sherrill, the CEO at Zona, will continue to be responsible for the day-to-day operations at Zona. Sherrill said, “Those of us at Zona are very pleased to have the opportunity to work with Pinpoint going forward. Pinpoint has the reputation in the telecommunications industry of being very innovative and they are a highly respected company. We have been very impressed with their work with Fiber to the Home elsewhere and we are looking forward to having access to their expertise as we build Zona into one of the leading fiber providers in the Valley”.
About Pinpoint—Pinpoint Holdings, Inc., was created as Cambridge Telephone Company to provide local telephone service in Cambridge, NE in 1918. Pinpoint provides a variety of telecommunications services (internet, phone, wireless voice and data, fiber to the home, data center) in Southwest Nebraska. It also provides FTTH around Lake Sinclair, GA, (near Milledgeville) and has been involved in a variety of fiber optic ventures from a statewide fiber network in Georgia, a city-wide fiber build in Omaha and a long haul fiber network from Denver to Chicago.
About Zona—Accipiter Communications (Zona) was formed in 1996 to provide primarily voice service in the rural areas north and west of Phoenix. Zona now provides voice and data services (including FTTH) to an 1100 square mile area in the zoning jurisdictions of Peoria, Surprise, and Buckeye, AZ.
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