FYI: Business

By Wire Reports - 11/4/2009


Windstream to acquire phone company NuVox

Little Rock-based phone company Windstream Corp. said Tuesday it's buying NuVox Inc. for $463 million in stock and cash. Windstream also will assume $180 million of net debt.

Windstream said the purchase of Greenville, S.C.-based NuVox, a phone company with about 90,000 business customers, will add to its high-speed Internet service and business revenue.

Windstream also will get a stronger presence where NuVox operates in the Southeast and Midwest, especially among small and medium-size businesses.

The deal is expected to save $30 million a year from the integration of operations and lower capital spending, Windstream said.

The acquisition is expected to close in the first half of next year.

Privately held NuVox generated $561 million in revenue in the 12 months ended June 30. It operates in 16 states in the Southeast and Midwest.





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