MachTen's Michigan Broadband to Acquire NMU Network for $21M, Adding 5G-Ready Spectrum
MACT sits 50% above its 52-week low of $4.
Summary
MachTen's subsidiary Michigan Broadband will acquire NMU's Educational Access Network for $21 million, gaining 2.5 GHz spectrum across 41 counties, 70+ tower sites, and 7,500 subscribers generating $2.5 million annual revenue. The deal adds a wireless platform to Michigan Broadband's 2,500-mile fiber network, with plans to upgrade to 5G and expand backhaul. Funding comes from BEAD grants and cooperative financing, reducing cash strain. The acquisition is material for MachTen's $19.7 million market cap and positions the company for wholesale mobile partnerships and rural broadband expansion.
At the time of this announcement, MACT was trading at $6.01 on OTC in the Technology sector, with a market capitalization of approximately $19.7M. The 52-week trading range was $4.00 to $8.25. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: GlobeNewswire.