SOUTHEAST IOWA IS NOW STRONGER THAN EVER!
We are proud to announce: Farmtel Communications from Wayland, Iowa is now part of the KCTC Family!
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Hear the great news
from KCTC & Farmtel Staff!
If you’ve got questions, we’ve got answers!
Who are the companies involved in the acquisition?
What is the purpose of this acquisition?
By combining our entities we really enhance our footprint and the impact we can have on the communities we serve. Combining our staff and their talents allows for more services to be provided to an even bigger coverage area. This will serve as a benefit to staff, current customers, and future customers!
How will this acquisition affect customers?
Will my current broadband plan be affected?
Will there be any changes to customer support and service locations?
What are the benefits of this acquisition for customers?
Will my monthly bill change as a result of the acquisition?
How will the acquisition impact employees of both companies?
What is the timeline for completing the acquisition?
How will the acquisition affect shareholders and stockholders?
The shares of Farmers and Merchants Telephone Company will be paid out by Communications Network, Inc a wholly owned subsidiary of KCTC. There will be no shares issued under KCTC. Shareholders with additional questions should seek advice and value from their legal counsel.
What steps are being taken to ensure a smooth transition for customers and employees?
Will there be any changes to the company's branding or name?
How can customers provide feedback or ask additional questions about the acquisition?
How will the staff combine? Will everyone stay?
We are excited that all the staff will remain employed by KCTC!
How is pricing determined with both companies coming together?
The price was agreed upon by both Farmers and Merchants and KCTC board
of directors. The price was determined by an assessment of the current assets
and liabilities of Farmers and Merchants.
How did this acquisition come to happen?
This relationship started many years ago as a friendship and the developing of
sharing ideas. Then in October of 2022 the KCTC Board of Directors signed the first
letter of intent. There were many changes and adjustments and the final approval
was given by KCTC board in April of 2023 and Farmtel’s board on May 12, 2023. The remaining time has been in the hands of the FCC and waiting on their approval.