Fatbeam, Ednetics acquire Tek-Hut

Coeur d’Alene-based Fatbeam and Ednetics of Post Falls announced this week they had completed the acquisition of Tek-Hut, an Idaho-based technology provider that caters to education organizations and local governments.

Fatbeam, which is a fiber internet and infrastructure provider, is acquiring Tek-Hut’s internet business. Ednetics is acquiring Tek-Hut’s managed services to expand on its advanced technology services, according to a news release.

All Tek-Hut employees involved in the transaction are expected to continue in a similar role within their new organization.“This is ultimately a success story of three Idaho-based technology companies with a common commitment to improving the connectivity and efficiency of Idaho schools, governments and businesses,” Fatbeam CEO Paul Merritt said.

Clearwater Paper posts ’20 profits

Clearwater Paper this week announced a net profit of $23 million for the fourth quarter of 2020.

The company is a Spokane-based supplier of paperboard and private label tissue to major retailers and wholesale distributors.

The profits came from $453 million in net sales in the quarter, up 4% over the same quarter from 2019, president and CEO Arsen Kitch said in a news release.

“Our people delivered exceptional results while persevering through significant professional and personal challenges in 2020,” Kitch said.

From staff reports