Metronet Acquires US Internet

EVANSVILLE, Ind.--(BUSINESS WIRE)--Metronet today announced it has acquired US Internet, a pure-play fiber company offering residential and commercial internet services in the greater Minneapolis area. The announcement comes shortly after Metronet was acquired by a joint venture between T-Mobile and KKR. Terms of the transaction are not being disclosed.

Headquartered in Minnetonka, Minn., USI operates a 100% fiber network that offers internet service with symmetrical speeds up to 10 Gbps. The USI network is accessible by more than 140,000 homes and businesses in and around Minneapolis, significantly increasing Metronet’s presence in the region.

“USI is the premier independent fiber provider in Minneapolis with a tremendous reputation, and we are so proud that it is becoming part of the Metronet family,” said David Heimbach, Metronet’s CEO. “Their coverage map complements Metronet’s own footprint in the greater Minneapolis area, creating a strong strategic fit as we continue to accelerate the expansion of our network.”

Metronet’s 100% fiber network is organically expanding at the fastest pace in the industry, with construction underway in dozens of cities at a time. The USI acquisition will extend Metronet’s reach in Minnesota, where the company already serves the nearby communities of Lakeville, Waconia, and Shakopee as well as cities farther south like Owatonna, Faribault and Rochester.

Of the transaction, Travis Carter, USI’s co-founder and CEO, said, “We founded USI 30 years ago to deliver state-of-the-art connectivity to Minneapolis and nearby communities. Being a part of the Metronet and T-Mobile Fiber families means that our customers will stay on the cutting edge of internet speeds and service, backed by Metronet’s strong fiber network and T-Mobile’s legendary customer service.”

Under the terms of its recently closed acquisition by the T-Mobile-KKR joint venture, Metronet’s residential customers are transitioning to T-Mobile Fiber, which will lead sales, marketing, and the customer experience. USI’s residential customers will be part of that transition, becoming T-Mobile Fiber customers in the coming months. USI’s commercial customers will become Metronet commercial customers.

About Metronet

Metronet, the nation’s fastest-growing fiber-to-the-home builder, is now owned by a joint venture of T-Mobile, America’s 5G leader, and KKR, the global investment firm. The company operates its 100% fiber optic networks on a commercial and wholesale basis, with T-Mobile Fiber providing marketing, sales and the customer experience for residential users. In cities across the country, Metronet has been building and operating fiber networks since 2005. Today, more than 2.6 million homes and businesses in more than 300 communities across 19 states have access to Metronet fiber, with new communities added each month. More information on the company can be found at metronet.com.