As I’m sure many of you already know, earlier this week Google confirmed that they would be launching their next-gen ISP Fiber network in the small city of Provo, Utah. Being just the 3rd location to receive the awesome service, and today we’re getting additional details regarding the acquisition of Provo’s current Fiber network called iProvo.

iProvo and their Fiber network has been around for years, but never fully came to fruition and got moving for the city on a mass scale. Provo, Utah is one of the largest cities in Utah and home to nearly 115,000 people, and is also one of the fastest growing start-up company generating cities in the US. So while many were wondering why Provo? That’s why.

The news earlier this week confirmed that the folks from Google have acquired iProvo, the cities current Fiber network, but the details weren’t yet available. Today however it appears that Google got quite the deal. iProvo is worth roughly $39 million but this is more of a deal with the city, than an acquisition. It’s being reported that Google acquired iProvo for just $1 dollar – for legal reasons – and from here on out things will only get better for Provo.

According to the AssociatedPress iProvo cost the city $39 million to build and even those who don’t use it still pay $5.35 a month for the service, and the city will continue to pay for it long after Google takes over. But hey, all those in Provo can pay $30 for the installation fee once Google Fiber goes live, and have free basic (but fast) internet service for 7 years. At least that’s Google’s current plan.

Reports also state that after infrastructure upgrades and such Google looks to build out and expand the Fiber network further by 2015. Looks like other cities will be coming up quick in Utah.