July 1, 2013

NRTC has acquired 100% ownership of NeoNova; the price and terms of the transaction were not announced. NeoNova will remain headquartered in Raleigh and will lead the operation, expansion and further development of ISP and related businesses for NeoNova and NRTC.

All NeoNova and NRTC customers will continue to receive their current services with no interruption and there will be no changes to current platforms or billing relationships. NeoNova’s management team, led by Ray Carey, will remain and continue to deliver the outstanding value and service that is the hallmark of both NeoNova’s and NRTC’s service solutions. Using the combined NRTC and NeoNova platforms, NeoNova expects to invest in an expanded set of residential, commercial, and enterprise services for rural and regional broadband providers, technology partners and small businesses.

Ray Carey, NeoNova’s CEO said, “We believe that this transaction brings two great service businesses together and marries NeoNova’s focused management with NRTC’s long-standing relationships in the rural telephone and electric communities. Our entire team looks forward to working with NRTC’s Alana Pilkington and all of our new partners at NRTC to continue to deliver first-class solutions to our collective customers.”

Tim Bryan, NRTC’s CEO, remarked, “Ray and Alana have each demonstrated a history of continued success with our member companies, and we are confident that combining their efforts will yield even better products and even higher customer satisfaction than today. We are pleased to deploy our cooperative capital in a way that directly serves our members.”

NRTC and NeoNova provide a wide variety of ISP services, including email, hosting, network management, circuit management, help desk and support, and enterprise services.