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Shenandoah snaps up JetBroadband for US$148m
US based Shenandoah Telecommunications Company announced that it has signed an asset purchase agreement to buy the cable operations of JetBroadband Holdings, LLC, which is located in the US states of Virginia and West Virginia, for US$148m.
JetBroadband…
US based Shenandoah Telecommunications Company announced that it has signed an asset purchase agreement to buy the cable operations of JetBroadband Holdings, LLC, which is located in the US states of Virginia and West Virginia, for US$148m.
JetBroadband Holdings passes some 114,000 homes and has approximately 66,500 revenue generating units. The company offers video, high speed internet and voice services.
Deal closure is set to occur upon receipt of regulatory approvals, which is scheduled to be within the coming 90-120 days. Shenandoah stated that the acquisition will be financed with a credit facility that will close simultaneously.
Shenandoah is a holding company which provides telecoms services through its operating subsidiaries and is traded on the NASDAQ Global Select Market. The subsidiaries provide local and long distance telephony, internet and data services, cable TV, wireless voice and data services, alarm monitoring and telecoms equipment, as well as associated solutions in the Mid-Atlantic US region.
