Providing Upstream Services for Voice, Long Distance, Customer Care and Billing
MANKATO, Minn., May 31, 2007 HickoryTech (Nasdaq:HTCO) today announced a new three-year contract with AVVID Technologies of Minnetonka, Minn. Under the terms of the contract, HickoryTech will provide wholesale services for voice, long distance, customer care and billing support.
The contract, which exceeds $1 million in total revenue, provides wholesale services to AVVID to deliver an integrated solution to more than 20 Multiple Dwelling Unit (MDU) complexes, which serve more than 2,000 metro area residents. The solution includes the transport to the sites, plus voice switching connections through the HickoryTech host switch.
HickoryTech is leveraging its robust, statewide fiber network to further grow its business customer base and provide solutions to customers, such as AVVID. "Our ability to offer business customers innovative and cost-effective turnkey solutions is a clear differentiator in the marketplace," said John Finke, president and chief executive officer of HickoryTech. "Our strong telecom experience and IP expertise is enabling us to win new business."
"HickoryTech offered a competitive and innovative proposal which met our needs," said John Huddock, Jr., president of AVVID Technologies. "We are pleased with HickoryTech's network and support in turning up the first 15 sites in April and May, and look forward to launching our remaining locations this summer. Our relationship with HickoryTech will allow AVVID to significantly scale our customer base in the Twin Cities marketplace."
"Our offering is a cost-effective, stable pricing alternative to the commercial agreements with traditional carriers," said Damon Dutz, president of HickoryTech's consumer solutions division. "Our solution for AVVID allows them to focus on their core competency of providing triple play solutions to MDU complexes by use of HickoryTech's technology and infrastructure."
About AVVID:
AVVID Technologies is a Minnesota-based communications company, a CLEC (Competitive Local Exchange Carrier) and ISP dedicated to providing Triple Play Solutions to the MDU marketplace. As a part of their product offering, they implement and support DirecTV High-Definition Television, High-speed Internet and Local Telephone services. AVVID is a leading edge technology company that has provided communications services successfully for the past ten years.
About HickoryTech
HickoryTech Corporation (NASDAQ:HTCO), headquartered in Mankato, Minn., offers integrated communication products and services to business and residential customers over a regional fiber network. The company is in its 110th year of operation and has approximately 400 employees. The Telecom Sector, with facilities-based operations in Minnesota and Iowa, offers local voice, long distance, high-speed Internet, Digital TV and IP networking services to residential and business customers. In addition, the Telecom Sector develops telecom and carrier access billing solutions and customer management systems. The Enventis Sector provides IP-based voice, data and network solutions to businesses across a five-state region. For more information, visit www.hickorytech.com.
This release may contain forward-looking statements that are based upon management's current expectations and are inherently uncertain. Forward-looking statements are based upon information available to us as of the date of this release and we assume no obligation to revise or update any such forward looking statement to reflect any event or circumstance after the date of this release. Actual results and the timing of events could differ materially from current expectations.