TDS Telecom to transfer ownership of its Texas cable operations

PRNewswire 21-Aug-2024 7:30 AM

MADISON, Wis., Aug. 21, 2024 /PRNewswire/ -- TDS Telecommunications LLC (TDS^®) has entered into a purchase agreement with Poka Lambro Telecommunications, Ltd. and Nevill Holdings, Inc. to transfer ownership of its cable operations in Texas. The joint agreement includes the transfer of TDS' cable properties in Seminole, Seagraves, and Denver City to Poka Lambro and the cable properties in Alpine and Fort Stockton to Nevill Holdings, Inc., the parent company of Big Bend Telephone Company and Big Bend Telecom Ltd. (BBT). The agreement was signed Monday and is expected to close within the fourth quarter of 2024.

Poka Lambro was founded in 1950 to provide telephone service to rural farms and ranches. Today, the company serves 4,000 square miles of the south plains of Texas with fiber-to-the-premise facilities and is the premier provider of broadband internet and telecommunications services in a region that boasts thriving residential communities and a robust business climate driven by agribusiness and energy production.

BBT has been connecting and serving rural communities in West Texas for more than 60 years. It offers high-speed fiber internet, voice, and data center solutions to residents, institutions, and businesses. The company's mission is to bridge the digital divide and continually invest in innovative solutions to make the digital world more accessible to rural areas across West Texas.

TDS, a Madison, Wisconsin-based company, has been doing business in Texas since 2013 when it acquired Baja Broadband, LLC who had been providing cable TV, voice, and internet service in Texas since 2005.

Eight local TDS Field Service associates will also transfer to the companies as part of the agreement.

"Moving forward, we are confident our customers will see the same level of quality service that they have come to expect," said President and CEO Jim Butman. "We have great associates in Texas, and we will assist them in their transition to the new companies."

"We are excited to welcome the TDS customers and associates to the BBT family," said Rusty Moore, General Manager and COO of BBT. "This acquisition aligns with our mission to provide exceptional service and innovative solutions to the communities we serve. We look forward to enhancing connectivity and continuing the legacy of quality service we devote across West Texas." 

"Poka Lambro is uniquely positioned to provide exceptional service to customers in these newly acquired markets," said Patrick Sherrill, CEO of Poka Lambro. "The addition of these three communities is a natural fit to our existing service territory and we pledge to serve these new customers with the same cutting-edge technology and great customer service for which Poka Lambro is known."

Charlesmead Advisors, LLC served as advisors to buyers on the transaction.

TDS Telecommunications LLC (TDS Telecom/TDS^®) delivers high-speed internet, TV entertainment, and phone services to a mix of small to mid-sized urban, suburban and rural communities throughout the U.S. With 1.2 million connections, TDS' mission is to create a better world through its communications services. Powered by fiber-optics and new industry-leading technologies, TDS delivers up to 8 Gigabit internet speeds and offers internet-protocol based TV entertainment solutions along with traditional phone services. TDS also offers businesses VoIP advanced communications solutions, dedicated internet service, data networking, and hosted-managed services. Visit tdstelecom.com.

TDS Telecom, headquartered in Madison, Wis., employs 3,400 people and is a subsidiary of Telephone and Data Systems, Inc. (NYSE:TDS). Founded in 1969, Telephone and Data Systems provides wireless, broadband, video and voice; and hosted and managed services to approximately 6 million connections nationwide through its businesses: UScellular, TDS Telecom, and OneNeck IT Solutions. Visit tdsinc.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/tds-telecom-to-transfer-ownership-of-its-texas-cable-operations-302227389.html

SOURCE TDS Telecommunications LLC