US ISP Earthlink has completed its acquisition of local regional carrier ITC DeltaCom in a transaction valued at approximately US$524m.
Earthlink said in a statement that under the terms of the “merger agreement”, DeltaCom stockholders would receive…
US ISP Earthlink has completed its acquisition of local regional carrier ITC DeltaCom in a transaction valued at approximately US$524m.
Earthlink said in a statement that under the terms of the “merger agreement”, DeltaCom stockholders would receive US$3 in cash per each share of DeltaCom common stock in the transaction.
Earthlink also said that it is paying US$199m in cash as part of the transaction, while also taking on approximately US$325m of DeltaCom’s senior secured notes.
According to an Earthlink statement in October, the Alabama-based DeltaCom has a fibre-optic network of more than 16,000 miles in the south-eastern US.
DeltaCom serves more than 32,000 businesses, wholesale customers and government agencies.
