Communications Services M&A » By The Online Investor Staff, updated Fri., May. 24, 6:46 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 is a telecommunications company. Co. conducts its wireless operations through its majority-owned subsidiary, United States Cellular Corporation. Co. provides broadband, video, voice and hosted and managed services, through its wholly-owned subsidiary, TDS Telecommunications LLC (TDS Telecom). Co. has four business segments comprised of: U.S. Cellular, which provides a range of wireless devices such as handsets, tablets, mobile hotspots, home phones and routers; and TDS Telecom's Wireline, Cable, and Hosted and Managed Services operations.
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