Friday, May 2, 2014

TDS Telecom to Acquire BendBroadband

TDS Telecom, the seventh largest local exchange telephone company in the U.S., agreed to acquire substantially all of the assets of BendBroadband, which provides broadband, fiber connectivity, cable television and telephone services for commercial and residential customers in Central Oregon. The purchase price is $261 million.

BendBroadband generated annual revenues of $70 million in 2013 and has approximately 280 employees. TDS Telecom serves about 1.1 million connections.

BendBroadband's strong market position and technology leadership will help us achieve significant forward momentum in our cable strategy," said David A. Wittwer, president and CEO, TDS Telecom. "We will leverage BendBroadband's considerable expertise across our growing cable business, driving residential and commercial growth by delivering competitive broadband, video and managed services over the high-capacity network. We share BendBroadband's vision of being a trusted partner to our customers and communities, and growing profitably through quality, service and innovation."