Tampa, Florida-based long distance telecoms firm Intermedia Communications Inc, copying its larger competitors, has acquired a local telecoms firm, LDS Communications Group for $151m. The deal is to be paid in 2.3 million shares of Intermedia stock worth $120m, and $31m in cash. Intermedia is in the process of acquiring business telecoms company Shared Technologies […]
Tampa, Florida-based long distance telecoms firm Intermedia Communications Inc, copying its larger competitors, has acquired a local telecoms firm, LDS Communications Group for $151m. The deal is to be paid in 2.3 million shares of Intermedia stock worth $120m, and $31m in cash. Intermedia is in the process of acquiring business telecoms company Shared Technologies Fairchild Inc for $60m in cash, and bought Internet Service Provider Digex Inc for $150m in cash in June (CI No 3,176). Intermedia is buying LDS to bolster its business in Texas, Oklahoma, and Louisiana, and make its core long distance business more profitable, by not having to pay expensive local call termination fees.
