LIGHTSTREAM AGREES TO ACQUIRE MONON TELEPHONE COMPANY

LightStream (Buffalo, IN) has agreed to purchase Monon Telephone Company, Inc. (Monon, IN). The purchase will further add to LightStream’s existing fiber network in White and Pulaski Counties.

“We have been neighbors to Monon since we started as a phone company in 1954,” says Brent Gillum, LightStream CEO. “Adding the town of Monon and its surrounding area fits perfectly with our existing coverage and service platform.”

LightStream has invested over $42 million in its fiber network and is thrilled to add Monon and its customers to their footprint. In addition to internet and phone services, customers can now include managed Wi-Fi service to their home or business to improve their internet experience.

“Indiana is showing that small towns are critical to economic growth and opportunities. We are proud of LightStream and its pursuit to better connectivity in some very rural parts of the state,” says Alan Terrell, President of Indiana Rural Broadband Association.

Monon Telephone Company was founded in 1900 and has been family owned since 1921. General Manager Bruce Hanway added, “The Hanway family is ready for a new chapter. We know that our beloved company of 100+ years is in great hands with our neighbors at LightStream.”

“We understand what it means to be a rural internet provider in Indiana,” says Josh Bowsher, LightStream Board Chairman. “We will extend our cooperative values to the Monon area, and we look forward to seeing many new faces.”

The transaction is subject to regulatory approvals which are expected to be final in the first half of 2024.

Charlesmead Advisors, LLC, served as Exclusive Advisor to Monon Telephone Company, Inc.