FAIRVIEW, UT — October 04, 2023 — CentraCom, a leading provider of telecommunications and broadband services in Utah, is pleased to announce the acquisition of Manti Telephone Company (MTC) and its sister companies, Manti Tele Communications Company (MTCC), and AFConnect (AFI). The financial terms of the acquisition remain undisclosed.
CentraCom, currently operates as a subsidiary of LICT Corporation (OTC Pink: LICT) and boasts a rich history dating back to its founding in 1903 as the first independent rural telephone company in Utah. CentraCom is a pioneer in providing high-capacity broadband data transport, telecommunications, video, and various other services to both rural and metropolitan areas across the state.
MTC, founded in 1907, has been a trusted provider of landline telephone services in Manti and Sterling, Utah, for over a century. Their commitment to delivering reliable communication services expanded to Ephraim in the 1990s. With the advent of technology, MTC established MTCC in 2006, offering cutting-edge fiber-to-the-home internet services to the communities of Manti, Ephraim, and Sterling. In 2022, MTC further expanded its reach by acquiring AFConnect, an internet service provider in American Fork, Utah, known for its continuous growth in providing fiber-to-the-home internet services.
The acquisition is part of LICT’s strategic initiative to expand our footprint and further reinforces our commitment to deliver high-speed broadband and communication services to the communities we serve. Manti’s operations are adjacent to the southernmost regulated CentraCom exchange, and this combination of the Manti employees and the rural communities of Manti, Sterling, Ephraim,and beyond, is expected to be a seamless integration with the CentraCom operations.
Brad Welch, CentraCom’s Chief Operating Officer, expressed his enthusiasm, stating, “We are very pleased to conclude this transaction and are confident that the combination of the two high quality networks and staff is in the best interests of all parties. We look forward to continuing to provide first-rate service to the customers of the Manti companies.”
Dallas Cox, General Manager of MTC, shared his enthusiasm about the acquisition, saying, ”With this acquisition, we are super excited to join forces with LICT and CentraCom to continue to provide great services to the wonderful people in Utah while never forgetting our roots here in Manti, Ephraim, and Sterling! We believe in CentraCom’s vision and have been amazed at the advancements they have made. We have witnessed the great things that they have done in so many communities both through the services and support they offer the communities they love.”
CentraCom and MTC, with the full support of LICT, are poised to create a brighter future for telecommunications in Utah, fostering growth, connectivity, and prosperity for the communities they serve. This acquisition represents a new chapter in the journey of delivering cutting-edge telecommunications services to rural Utah.
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CentraCom is the DBA of Central Utah Telephone Inc., which was founded in 1903 as the first Independent rural telephone company in Utah. Today, CentraCom provides broadband data transport, telecommunications, video, and other services to significant portions of rural and metropolitan Utah.
Manti Telephone Company (MTC) and Manti Tele Communications Company (MTCC): Manti Telephone Company (MTC), founded in 1907, has been a trusted provider of landline telephone services to Manti and Sterling, Utah. MTC expanded its services to Ephraim in the 1990s and further ventured into high-speed fiber-to-the-home internet services through its sister company, Manti Tele Communications Company (MTCC), established in 2006. MTC’s commitment to growth and connectivity expanded with the acquisition of AFConnect, an internet service provider in American Fork, Utah, known for its continuous growth in providing fiber-to-the-home internet services.
LICT Corporation is a holding company with subsidiaries in broadband and other telecommunications services that actively seeks acquisitions, principally in its existing business areas.
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This release contains certain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation anticipated financial results, financing, capital expenditures and corporate transactions. It should be recognized that such information is based upon certain assumptions, projections and forecasts, including without limitation, business conditions and financial markets, regulatory and other approvals, and the cautionary statements set forth in documents filed by LICT on its website, www.lictcorp.com. As a result, there can be no assurance that any possible transactions will be accomplished or be successful, or that financial targets will be met. Such forward-looking information is subject to uncertainties, risks and inaccuracies, which could be material.
LICT Corporation is listed on the OTC Pink ® under the symbol LICT. For further information visit our website at http://www.lictcorp.com.
