TDS Telecom, a subsidiary of Telephone and Data Systems, has completed the acquisition of Oregon-based cable and broadband company BendBroadband for US$261m.
Telephone and Data Systems first announced its intention to acquire BendBroadband in May…
TDS Telecom, a subsidiary of Telephone and Data Systems, has completed the acquisition of Oregon-based cable and broadband company BendBroadband for US$261m.
Telephone and Data Systems first announced its intention to acquire BendBroadband in May pending regulatory approvals, which have now been received.
At the time, TDS Telecom’s CEO David Wittwer commented that the transaction would help his company “achieve significant forward momentum in [its] cable strategy”.
Besides TDS Telecom, Telephone and Data Systems also owns regional wireless operator US Cellular, cableco Baja Broadband, and an IT solutions business.
BendBroadband, which provides broadband, fibre connectivity, cable television and telephone services for commercial and residential customers, reported annual revenues of US$70m in 2013.
RBC Capital Markets served as BendBroadband’s M&A adviser. Stoel Rives, Davis Wright Tremaine and Cinnamon Mueller were legal counsel to BendBroadband. Sidley Austin acted as legal counsel to TDS.
