Skip to main content

TV installer Multiband sold to Texas firm for $116M

  • Author:
  • Updated:
    Original:

Multiband Corp., a cable and satellite television installation company based in Minnetonka, has reached a deal to be acquired by Texas-based Goodman Networks for roughly $116 million in cash, the Star Tribune reports.

Under the terms of the agreement, Multiband can solicit higher bids for 45 calendar days.

If Multiband takes a superior offer, it would be required to pay Goodman Networks a breakup fee of $5 million to $6 million, depending on timing, according to a news release.

Multiband will be operated as a wholly-owned subsidiary of Goodman Networks and Jim Mandel will continue his role as CEO after the transaction closes.

Click here, to follow Multiband's stock performance.

Next Up

snow

Winter weather advisory issued as Saturday snow arrives

Not huge totals expected, but any snow will likely impact travel.

Wilf

Report: Ryan Poles is Vikings' 'top choice' for general manager

Poles was one of two finalists revealed on Friday.

Payton Willis

Willis carries shorthanded Gophers to beat Rutgers

The senior scored a career-high 32 points to end a four-game losing streak.

MARCUS ALEXANDER STEICHEN

Charges: St. Paul man had sexual contact 'multiple times' with 12-year-old girl

Marcus Steichen, 21, is charged with first-degree criminal sexual conduct.

Screen Shot 2020-08-14 at 6.45.53 PM

Charges: Mom killed infant son just weeks after getting him back from foster care

The 10-month-old died in her care in Brooklyn Park last April.

Flickr - police lights squad siren - Edward Kimmel

Arrests made following fentanyl bust in St. Cloud

Authorities searched two St. Cloud apartments Friday morning.

potatoes 2

Minnesota's 'frozen potato freeway' closure attracts plenty of comment

It was, let's face it, a very Minnesotan reason for a freeway closure.

Screen Shot 2022-01-21 at 9.07.54 AM

U of M fraternity raises money for chef's knee surgery

The GoFundMe has raised around $1,700 of its $5,000 goal.

unsplash restaurant cashier register COVID face mask - crop

7 restaurant, bar groups sue Minneapolis over dining vaccine mandate

"Minneapolis bars and restaurants are being used as pawns..." the lawsuit said.

Screen Shot 2022-01-22 at 7.47.53 AM

Woman fatally shot in St. Paul's North End neighborhood

It's the fourth homicide so far this year in St. Paul.

Wild

Wild flip the script, dominate Blackhawks

Ryan Hartman scored twice to earn the first game of a back-to-back.

Hopkins Basketball

Hopkins suffers rare loss to No. 1 ranked Sidwell Friends

The Royals held their own in a battle of the nation's best.

Related

Bloomington-based software firm sold

New Jersey-based Verisk Analytics has agreed to acquire Aspect Loss Prevention for $8 million. The Twin Cities-based software company helps companies prevent employee theft.

Twin Cities firm signs deal with Netflix

Intequus, a Minnetonka tech firm, was selected to design new servers Netflix will use to stream its most popular movies and television content to its more than 23 million subscribers.