06 Nov TDS announces agreement to acquire State Long Distance Telcom Ltd.
Madison, Wis. – TDS Telecommunications Corp., a subsidiary of Telephone and Data Systems, has announced that it has entered into a definitive agreement for the acquisition of State Long Distance Telecom, Ltd., a privately held telecommunications company in Elkhorn, Wis.
The transaction is subject to certain conditions including regulatory approvals. The closing is expected to be in fourth quarter 2008.
State Long Distance Telcom currently serves 9,300 access lines and 2,200 DSL lines, through one telephone exchange.
David A. Wittwer, president and chief executive officer of TDS Telecommunications Corp. said: “State Long Distance is an excellent addition to our footprint in southeast Wisconsin. The company is near two of our existing telecommunications companies and operates a high-quality network. We look forward to being the preferred broadband provider in the community, offering new product bundles, enhanced service quality, and faster high-speed Internet service to our new customers.”
Mazer Telecom Advisors of Denver, Colorado, acted as financial advisor to State Long Distance Telcom, Ltd., in the transaction.