Pinpoint Reinforces Its Commitment
to Rural Nebraska
January 1, 2020
Pinpoint continues to take strides to promote the expansion of fiber broadband in rural communities and farms throughout Nebraska. Most recently, the Pinpoint team engineered and implemented a fiber network in Oxford, Nebraska, overbuilding an older cable plant in order to deliver the state of the art service to Village residents. The new service went live on November 1, 2019 with installation of the first new subscribers and transition of existing customers over to the new network.
Tom Shoemaker, President of Pinpoint Communications, had this to say about the company and its ventures, “Pinpoint has dedicated their work to providing a future-proof product to yet another small community that had been overlooked by the incumbent provider(s). This is what we do. We invest real dollars, time and people in a market to help increase the quality of living, inducing economic stimulation and providing the same experience for rural residents as offered in urban settings. Recent sales of Pinpoint assets, including the Zona Communications investment last July, continue to help fund our growth. We are committed to the future of Nebraska and will endeavor to expand fiber into areas that are lacking in support. The need for reliable and fast internet service is growing exponentially. No matter which vehicle you choose to access it, Pinpoint provides the ultimate highway to get you there. We promote and encourage the use of over the top streaming of video content as an affordable option for viewing live and recorded television. It is the way the world is going and we embrace it and are willing to help our customers adopt the new technology.”
Pinpoint currently operates an all-fiber network in four communities in southwest Nebraska including Bartley, Cambridge, Gothenburg and now Oxford. In a recent press release, Pinpoint announced new management succession of its parent company, Pinpoint Holdings, Inc. following the retirement of current President/CEO, Michael Urdahl. As of January 1, 2020, current CFO, Bachtiyer Kholmatov will step into the leadership role while continuing to direct the overall financial administration for Pinpoint. Bachtiyer Kholmatov joined Pinpoint in 2008 as Vice President of Finance. He was promoted to CFO in 2010 and has served as interim manager of several divisions and companies under Pinpoint Holdings, Inc. during times of transition. He brings more than 25 years of experience in the field of finance, international trade, IT/software and more in support of the new executive role.
While changes organizationally occur from time to time. One thing that remains constant is Pinpoint’s dedication to rural Nebraska and connecting as many communities and residents to fiber networks as possible. Pinpoint looks forward to continuing this mission long into the future.
For questions or inquiries regarding the availability of fiber services in rural areas, please contact Pinpoint directly by calling 800-793-2788, emailing firstname.lastname@example.org or stopping in one of the three local offices: 1004 Ave D - Gothenburg, 611 Patterson St - Cambridge, or 312 W B St - McCook.
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FOR IMMEDIATE RELEASE
Pinpoint Announces New Management
Kholmatov Named President and CEO as Urdahl Retires
December 19, 2019
Cambridge, NE December 19, 2019 - Pinpoint announced today that current CEO Michael Urdahl has elected to retire at end of the year. Urdahl was named CEO in January 2016 and has served in the capacity of corporation President as well as presided as manager over Pinpoint’s e-Care Nevada and Zona Communications projects and was a key facilitator in the sales of these companies. The departure of Urdahl opens the door for the board to name Bachtiyer Kholmatov as the incoming President and CEO of Pinpoint Holdings Inc.
Kholmatov joined Pinpoint in 2008 as Vice President of Finance bringing with him more than 20 years of professional experience in the arenas of finance, international trading, food processing/manufacturing, IT/software and consulting. He was promoted into the role of Chief Financial Officer in 2010. Additionally throughout his career with Pinpoint, Bachtiyer has held interim CTO and COO positions during periods of transition involving sales of different divisions and companies as well as through organizational restructuring.
J. Richard Shoemaker, Chairman of the Board for Pinpoint, remarked on the shift, “Mike has been an integral part of Pinpoint’s recent accomplishments and we owe him a great deal of gratitude for his service. We are confident in our selection of Bachtiyer Kholmatov as the new CEO/President and excited to move into this next phase of management succession. We believe Bachti will continue to lead Pinpoint down the road of success well into the future.” Kholmatov will officially take the reins as CEO on January 1, 2020.
Mr. Urdahl will continue to be affiliated with Pinpoint functioning as a consultant focused on the Nebraska Public Service Commission, State legislative initiatives, Public Private Partnership initiatives, and in other areas of identifying expansion opportunities for broadband over fiber throughout the state.
About Pinpoint Holdings, Inc.-
Pinpoint Holdings, Inc., a Nebraska company owns and operates telecommunications services through its various subsidiaries. Pinpoint is headquartered in Cambridge, NE, with offices in McCook and Gothenburg, NE through which they provide regulated telephone, IPTV, broadband Internet, competitive local exchange, long distance, and fixed wireless services. Pinpoint has deployed and manages an all-fiber network in the communities of Cambridge, Bartley, Gothenburg and recently Oxford, Nebraska, focusing on the expansion of fiber into smaller communities within the State and serving as the voice for rural fiber broadband development and implementation for all to gain the benefits of using high quality, state of the art fiber optic transmission assets. Pinpoint has been in business for nearly 30 years and was started out of Cambridge Telephone, which has been in business for over 100 years.
For Immediate Release
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PINPOINT HOLDINGS, INC. SELLS ZONA COMMUNICATIONS
Wednesday, June 19, 2019
Pinpoint Holdings, Inc. (Pinpoint), announced today it has reached a definitive agreement to sell Accipiter Communications (d/b/a Zona Communications—Zona)) of Peoria, AZ, to Wyyerd Group (Wyyerd), for an undisclosed amount. The sale of Zona Communications is the latest strategic transaction by Pinpoint as it continues its approach of acquiring undervalued companies.
J. Richard Shoemaker, Chairman of the Board of Pinpoint Holdings, Inc., indicated the Zona Communications project continued a pattern where Pinpoint assumed control of a troubled asset and, in turn, made those assets profitable. “We bought Zona when it was in bankruptcy in early 2017 and our team basically doubled the number of customers in two years”, Shoemaker said. “This is just the latest example of Pinpoint’s expertise in finding distressed assets, correcting problems, and creating value for our shareholders”.
Shoemaker, who has more than 35 years in the telecommunications industry, went on to observe that today’s consumers are extremely savvy regarding the technology and service they are provided. He said, “Our experience in Arizona was similar to many other areas in which we have provided service. It is clear that customers want fiber-based internet instead of older technologies and Pinpoint intends to continue to expand to provide fiber-based internet services in other locales”.
The sale of Zona to Wyyerd was a positive result for all parties according to Pinpoint and Zona CEO Michael Urdahl. “The capital Wyyerd will bring to Zona will allow us to expand our service throughout the West Valley of Phoenix and beyond”, Urdahl said. “Also, Pinpoint will now be able to take the cash received from this sale and examine other opportunities which may be available around the country”.
While Pinpoint has actively purchased and rehabilitated various distressed assets around the country, the company also has been committed to providing service in rural Nebraska. “Pinpoint has provided fiber-based services in locations such as Cambridge, Bartley and Gothenburg and has also provided wireless and internet services throughout Southwest Nebraska”, Shoemaker said, “With the sale of Zona, we will be looking throughout Nebraska and beyond to see where we can fill a niche by providing fiber-based services where customers currently have no such option”.
The deal will be final once regulatory approval has been given by the Federal Communications Commission and notification has been given to the Arizona Corporation Commission. The entire process should be completed by late summer.
- About the Companies
Wyyerd Group is a residential, commercial and smart-community fiber-optic based telecommunications services provider founded in 2017 and based in Boulder, CO. Wyyerd’s vision is to become the cornerstone partner for internet connectivity, fiber and facilities interconnection, smart community enablement and sustainable development, one community at a time across the US and Southern Canada.
Pinpoint Holdings, Inc., was originally founded as Cambridge Telephone Company in Cambridge, NE more than 100 years ago. Pinpoint is a diversified telecommunications company which has been involved in a variety of telecommunications businesses including landline, wireless, internet, long haul fiber, data centers, and fiber-to-the-premise. Pinpoint Holdings, Inc., is headquartered in Cambridge, NE.
Zona Communications was founded in 1996 as a rural telephone company when US West was selling rural telephone exchanges. Zona operates in an 1100 square mile area in Maricopa and Yavapai Counties and provides service in areas such as Vistancia and Sun City Festival. Zona Communications is headquartered in Peoria, AZ.
For more information, contact:
Tom Shoemaker, President of Pinpoint Communications