Communications Services M&A » By The Online Investor Staff, updated Sat., Apr. 20, 12:23 AM
Recent mergers and acquisitions in the Communications Services M&A category.
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Slide #3. Telephone and Data Systems — BendBroadband
Acquirer:
Telephone and Data Systems (NYSE:TDS)
Acquiree:
BendBroadband
Details:
Telephone and Data Systems, Inc. (NYSE: TDS), parent company to TDS Telecom, today announced an agreement to acquire substantially all of the assets of a group of companies operating as BendBroadband, headquartered in Bend, Oregon, for a purchase price of $261 million. BendBroadband generated annual revenues of $70 million in 2013 and has approximately 280 employees. The transaction is expected to close in the third quarter of 2014 pending regulatory approvals and other conditions.
Telephone and Data Systems provides communications services to customers with wireless connections and wireline and cable connections. Co. conducts its wireless operations through its majority-owned subsidiary, United States Cellular Corporation (UScellular). Co. provides broadband, video and voice services through its wholly-owned subsidiaries TDS Telecommunications LLC and TDS Broadband LLC (collectively, TDS Telecom). Co. has two business segments: UScellular and TDS Telecom. Co.'s operations also include the operations of its wholly-owned hosted and managed services subsidiary, which operates under the OneNeck IT Solutions brand, and its wholly-owned subsidiary Suttle-Straus, Inc.
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Avg. Broker Rec.
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Buy (3.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Analysts' Target Price: TDS Stock Forecast Based on Zacks ABR data; powered by Xignite |
