US landline operator Telephone and Data Systems (TDS) has completed its acquisition of small US cableco Baja Broadband for US$267.5m from two private equity firms.
M/C Partners and Columbia Capital agreed to sell the operator to Chicago-based TDS’…
US landline operator Telephone and Data Systems (TDS) has completed its acquisition of small US cableco Baja Broadband for US$267.5m from two private equity firms.
M/C Partners and Columbia Capital agreed to sell the operator to Chicago-based TDS’ subsidiary TDS Telecom in February in an all-cash deal.
The transaction was subject to regulatory approvals, which have now been received.
New Mexico-headquartered Baja operates video, broadband and voice services via cable across Colorado, New Mexico, Texas and Utah. It offers video, high-speed internet and telephony, and recorded US$82.4m in revenues for 2012.
RBC Capital Markets served as an adviser to M/C Partners and Columbia Capital and as the exclusive M&A adviser to Baja Broadband. Waller Capital Partners also advised M/C Partners and Columbia Capital on the transaction, and Edwards Wildman Palmer was legal counsel to Baja.
TDS currently offers wireless, broadband, television and fixed-line telephony through its three subsidiaries: regional wireless operator US Cellular; local exchange carrier TDS Telecom; and TDS Hosted & Managed Services. As a whole, TDS reported total operating revenues of US$4.6bn for 2012.
