Wapakoneta, Ohio, February 7, 2024.
Buckland Telephone Company (“BUCKLAND”) announced today that it has entered into a merger agreement with Hanson Communications, Inc. Subject to customary terms and conditions, Hanson Communications will acquire BUCKLAND, and BUCKLAND shareholders will be paid cash for their shares. Hanson Communications is a family-owned communications company with operations in Ohio, Minnesota, Nebraska and South Dakota.
Jeff Hager, President of BUCKLAND, said, “The timing is right for this significant change, and we believe it will benefit our employees, our customers and our shareholders.” Hanson Communications intends to retain all employees of BUCKLAND. BUCKLAND was formed in 1903 and has continuously served the local area since that time.
The Hanson family’s involvement in telecommunications dates to 1951, when Wes Hanson started in the business in his hometown of Clarkfield, Minnesota. From this start, the Hanson family’s interests in telecommunications have expanded, largely through acquisitions, to over 25,000 customers. BUCKLAND will be the fifth acquisition by Hanson Communications in Ohio, the others being Telephone Service Company, Middle Point Home Telephone Company, Northwest Net and Consolidated Communications of Ohio.
BUCKLAND will be managed under the Telephone Service Company (TSC) umbrella as have all the other Ohio Acquisitions. Hanson Communications, through its initial acquisition of TSC in June of 2007, will now own and operate seventeen Local Exchanges in seven counties and one Competitive Local Exchange that has operations in five additional counties.
Completion of the Merger requires that holders of at least two-thirds of BUCKLAND’s outstanding common shares vote in favor of adopting the merger agreement. The shareholder vote will be held in Buckland on February 24th. The merger is also subject to regulatory approval and satisfaction of certain conditions contained in the merger agreement.
