TDS Telecom, a subsidiary of Telephone and Data Systems, Inc. (NYSE: TDS), says it has bought "substantially all" of the assets of Bend, OR-based cable and broadband services provider BendBroadband. TDS paid $261 million for its new acquisition.
TDS revealed its intention to buy BendBroadband this past May (see "Telephone and Data Systems to acquire BendBroadband for $261M"). It has now received all of the necessary regulatory approvals.
BendBroadband reported annual revenues of $70 million in 2013. BendBroadband’s businesses, including Tier 3 data center The Vault and its Zolo Media cable advertising and broadcast operation, comprise broadband, fiber connectivity, cable television, and telephone services for thousands of commercial and residential customers, TDS says. OneNeck IT Solutions, a TDS company, will integrate The Vault into its portfolio of U.S. data centers.
"BendBroadband is an exceptional company," stated Mark Barber, vice president of cable operations for TDS Telecom. "BendBroadband customers should continue to expect the same great products and services, along with the strong local traditions BendBroadband has established."
Nearly 300 BendBroadband employees will transition to TDS. "Working together to implement a successful integration within the TDS organization is a top priority," concluded Barber.
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