Cambridge, Neb. — Pinpoint Holdings, Inc. (Pinpoint) of Cambridge, Nebraska announced Wednesday it has reached agreement to sell Zona Communications of Arizona to Wyyerd Group of Colorado for an undisclosed sum.
J. Richard Shoemaker, Chairman of the Board of Pinpoint says the transaction continues a pattern where Pinpoint assumed control of a troubled asset and made it profitable. Shoemaker says Pinpoint bought Zona when it was in bankruptcy in early 2017 and Pinpoint doubled Zona’s customer base in two years.
Shoemaker says while Pinpoint has purchased and rehabilitated various distressed assets around the country, the company has also provided fiber-based services in locations such as Cambridge, Bartley and Gothenburg and has also provided wireless and internet services throughout Southwest Nebraska.
The deal will be final once regulatory approval has been given by the Federal Communications Commission and notification has been given to the Arizona Corporation Commission. The entire process should be completed by late summer.
Pinpoint Holdings, Inc., was originally founded as Cambridge Telephone Company in Cambridge, NE more than 100 years ago. Pinpoint is a diversified telecommunications company which has been involved in a variety of telecommunications businesses including landline, wireless, internet, long haul fiber, data centers, and fiber-to-the-premise.