BroadweaveNetworks
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Provo, Utah sells iProvo fiber-optic network to Broadweave
iProvo, the largest municipally owned fiber-to-the-premises network in the entire United States, has just been sold to Broadweave Networks. The Provo, Utah-based network actually reaches all 36,000 residents and businesses of the city, and manages to connect homes, businesses, government buildings, schools and even traffic signals. The sale price was $40.6 million, which is plenty to retire the outstanding bonds incurred by Provo to build the system. The City itself seems quite pleased, as it gains the advantage of the sale and it continues to enjoy the benefits of the infrastructure. Under the agreement, Broadweave will act as the network owner and service provider, while Provo retains a license to keep on using the fiber as it has in the past. Best of all, the new owner has already promised to "invest heavily in network upgrades in order to increase capacity, features, and performance for commercial customers," though we aren't sure if that means more HD content is on the way.
