BIDDEFORD — GWI Inc. of Biddeford said it forged a deal to buy Rockland-based Midcoast Internet Solutions, adding 2,495 business and residential customers from Bath to Belfast, as well as fixed wireless broadband service.
The terms of the deal were not disclosed.
Midcoast Internet Solutions, which has $1.6 million in annual revenues, was founded in April 1995 by Chief Executive Jason Philbrook. The company offers services to residential and business clients such as high-speed Internet, digital phone and Web hosting. Philbrook will stay with the combined company, GWI said.
Midcoast was one of the first companies on the East Coast to install broadband connections via fixed wireless technologies and offers innovative wireless-to-fiber solutions for many who live on Maine’s islands.
While there are likely to be savings of 10 to 15 percent in overhead, there are no job losses expected from the deal. The combined firm will have 81 employees.
GWI will keep Midcoast’s current office location in Rockland. Midcoast customers will continue to receive the same services, pricing, and support they currently have, GWI said.
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