GR's Iserv Acquired By Boston Firm
GRAND RAPIDS -- The Iserv Co., one of the largest independent internet service providers in the Midwest, announced today it has been acquired by Boston-based 382 Communications. Terms of the deal were not disclosed.
382 Communications offers voice, data, and network services to communications service providers and enterprise clients in the U.S. and internationally. The company said the acquisition of Iserv was a natural fit with their overall corporate strategy of developing emerging broadband markets across the country.
The Iserv name will remain in place and the company will be leveraging 382 Communication's expansive network and buying power to roll out new services at aggressive price points, including wireless and business class voice.
The company also plans to significantly increase sales, technical, and support staff in the months ahead.
The Iserv data center and headquarters on 33rd Street in Grand Rapids will also serve as an expansion hub and national customer support and billing center for 382 Communications going forward.
"Iserv is an outstanding strategic addition to 382 Communications' current business and dramatically enhances our customer support and data center infrastructure," said Dan Koch, 382 Communications CEO. "Michigan is an important, technically sophisticated market, and we are looking forward to expanding the range of products and services available to Iserv customers. We are very happy to be in Grand Rapids and are committed to building on the great work Iserv has done to date."
Victor Shepherd, longtime CEO of Iserv, will assist the company in an advisory capacity. Other members of the company's leadership team will remain in place, with continued oversight over Iserv's network, back-office systems, and customer service.
"Iserv has a 17-year operating history, a loyal customer base, and an established reputation for cutting edge technology backed by exceptional service," Shepherd said. 'The arrival of 382 Communications represents great news for Iserv, its customers, and our region as whole. This national company will bring not just new services, but also an accelerated pace of innovation and growth over the long term. Their selection of Iserv is a great compliment to everyone on the Iserv team, and to our community."
Following the transaction, Iserv and 382 Communications will continue to provide services under their current brand names, with 382 Communications (www.382com.com) maintaining its focus on wholesale markets. Iserv (www.iserv.net) will continue to provide Midwest coverage from its Grand Rapids headquarters, and will be able to offer nationwide coverage as a result of combining with 382.
Founded in 1995, Iserv began by delivering dependable Internet service to homes in Grand Rapids. Since then, the business has expanded dramatically, growing in coverage area, customer base, revenues, services, and technical capabilities. Iserv has evolved from a residential ISP to a full-service provider serving businesses and homes throughout the Midwest.
382 Communications is a provider of voice, data, and network services to communications service providers and enterprise clients with a need for high-throughput, low latency optical and wireless solutions and a modern, fully redundant network with global presence. Founded in 2010, 382 Communications is led by an experienced team of industry veterans that has been working closely together for over 12 years, and prior to founding 382, brought a well-known regional provider of telecommunications services from obscurity to in excess of $60 million in annual revenues, operating over a 10 state network footprint, and with more than 120 employees.
