Pennsylvania-based telephone provider, Talk America, has agreed to be bought out by Cavalier Telephone and TV, at a cash price of $251 million, or $8.10 per share.
Once merged, the two companies will have combined annual revenues of $750 million, and $130 million a year in earnings before interest, depreciation, and amortization.
The combined company will serve over 550,000 residential customers and 85,000 business-level users in Atlanta, Baltimore, Cleveland, Detroit, Philadelphia, and Washington D.C.
The acquisition deal is expected to close in December, after it has been gained the final approval of both companies` executives and shareholders.
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| Paetec Acquires McLeodUSA for $492 Million
19/09/2007
Fairport, New York-based corporate phone provider, Paetec Holding Corp., has agreed to purchase the troubled competitive local exchange carrier (CLEC), McLeodUSA, for $492 million.The acquisition of McLeodUSA, which offers telephone and high-speed internet services in... |
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| Verizon Plans to Spin Off or Sell Telephone Directory Business
08/07/2006
Verizon Communications announced yesterday that it plans to either sell or spin off its telephone directory business by the end of this year, reflecting its desire to refocus efforts on broadband and wireless services.The telecom giant has filed a registration form... |
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| Alltel Completes Spin-off of Landline Telephone Division
18/07/2006
Arkansas-based telecommunications provider, Alltel, has completed a $4.9 billion deal to merge its landline telephone division with Valor Communications Group, to create a new company called Windstream Corporation.Windstream will is set to start trading as an... |
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| Hotel Telephone Revenues Drying Up, Says Industry Association
05/11/2006
Fewer and fewer visitors are using the phones available in hotel rooms, according to a recent study by the American Hotel & Lodging Association.The widespread availability of cell phones has reduced the need for landlines among business travelers, eliminating one... |
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