Spokane based-Tahoe Network Infrastructure LLC, a fiber optic investment company focused on providing broadband internet service to underserved communities, has acquired E-Vergent, a Wisconsin regional fiber and fixed wireless provider, for $11.2 million.

Gregory Green, Tahoe’s chairman, says E-Vergent is the 2-year-old company’s first acquisition.

Green says Tahoe is modeled after Fatbeam LLC, a Coeur d’Alene-based company he co-founded in 2010 and remains involved in as a board chairman. Fatbeam builds high-capacity fiber optic networks and leases connectivity through fiber infrastructure on a wholesale basis to hospitals and other businesses. While Fatbeam is focused on a Western market, Tahoe is focused on building out its fiber footprint throughout the Midwest.

“These rural, small towns deserve the same level of broadband as large cities,” he says.

Green projects Tahoe’s annual revenue for 2023 will be about $5 million.

E-Vergent has over 1 million residential and commercial subscribers in 10 counties, including the Milwaukee and Chicago areas, delivering service from more than 100 towers. After the acquisition, Tahoe expects to invest $10 million in expanding E-Vergent’s regional footprint, says Green. 

In a press release, former E-Vergent owner Joe Adipietro says, “Tahoe and its management team have a strong record in founding and operating successful telecom companies. They have the financial capability to propel this business to the next level, which ultimately is what it’s all about.”

The acquisition will add E-Vergent’s 20 employees to Tahoe, which had “only handful” of people prior to the acquisition, Green says.