By Michelle Key and Robert Noles
The Opelika City Council announced tonight the intention to sell the city’s fiber telecommunications assets and operations, known as OPS One, to Point Broadband out of West Point, Georgia. The council voted to approve the resolution for the sale of the fiber network for an amount of $14.7 million dollars with $1.4 million of that being held in escrow. The transaction is scheduled to closed on Nov. 8 according to a press release from the city.
The press release further stated that all OPS One employees will transfer to Point Broadband with the same positions and salaries.
Point Broadband began offering internet, video and telephone services in Lee County in 2017 and is a subsidiary of ITC Capital Partners, LLC.
A press conference is scheduled for Wednesday morning at 9 a.m. with Opelika Mayor Gary Fuller and Todd Holt, Chief Executive Officer of Point Broadband. The press conference will be held in the city council meeting room at City Hall.
We will update the story as more information becomes available.