TDS Buying BendBroadband

Telephone and Data Systems (NYSE:TDS) announced an agreement to acquire BendBroadband, headquartered in Bend, OR, for a purchase price of $261 million. The transaction is expected to close in the third quarter of 2014 pending regulatory approvals and other conditions.

BendBroadband has approximately 36,000 video subscribers, 41,000 high-speed broadband subscribers and 22,000 digital voice subscribers. The agreement also includes two affiliated companies operated by BendBroadband: BendBroadband Vault, a Tier III data center providing colocation and managed services, and Zolo Media, a cable advertising and broadcast business.