Google buys iProvo network for $1

Google announced that they plan on unveiling a next-gen ISP Fiber network in Provo, Utah. The city has a network which is known throughout as iProvo. According to a report published by Associated Press, Provo’s Fiber network is scheduled to be bought by the American giant for only $1.

Why Provo? The city is renowned for being a very important heaven for start-up companies. So Google became interested in them and their Fiber network. Hence the decision to buy it and transform it into something that would home ultra speed gigabit technology from now on.

The building cost of iProvo was $39 million. Google buying it should happen, in theory, on the 23rd of April. The deal signed between Google and the city officials is made of various clauses, some of them to the detriment of the city’s inhabitant.

According to the document, Provo’s townsfolk are going to pay off construction lend for a period of 12 years from the moment the iProvo becomes Google property.

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However, the city’s inhabitants will be able to supposedly enjoy free and much better gigabit connections from Tuesday onward for a period of seven years. The contract fee for the future Google Fiber is said to be $30 for those living in Provo.

Associated Press also reported the following: should Google come to the conclusion that they want out of the merger for objective reasons, they have the right to give back the network for the same $1. The agreement, though, contains another clause: Google can set together a public wireless network of extensive dimension in Provo. Which basically means that people living in that city will be able to access the World Wide Web directly from their smartphone, tablets and so on.

If everything goes well this coming Tuesday, then Provo will join Austin and Kansas City on the front of very fast TV and Internet services.