TDS Broadband, a TDS Telecom-operated unit, has purchased Mead, Colorado-based K2 Communications to enhance its growing base of cable and broadband assets.
Upon completing the K2 Communications deal, TDS Broadband will add over 1,200 service addresses to the adjacent Berthoud and Johnstown serving areas TDS Telecom entered into following its acquisition of Baja in 2013.
Jim Butman, COO at TDS Telecom, said what made K2 an attractive target for TDS Broadband was its location.
“Situated on the I-25 corridor 30 minutes north of Denver, K2 Communications is approximately 10 miles from our Johnstown location and just six miles from our Berthoud market,” Butman said in a release.
Since the company was launched in 2002, K2 Communications has provided broadband, video and voice products to area residents. Dave Kavanagh of KavaCom Consulting assisted K2 Communications with this deal. Financial terms of the agreement will not be disclosed. The deal is pending regulatory approval at both the federal and local levels.
TDS Telecom’s purchase of K2 is just one of several regional service provider acquisitions TDS has made in recent years. The service provider’s strategy has been to acquire assets that can complement its current holdings in terms of network holdings and geography.
This year has been an active one for TDS Telecom on the M&A front. K2 is TDS Telecom's fourth acquisition this year. TDS has also purchased Crestview Communications and Wisconsin-based Sun Prairie Utilities' telecom assets to accelerate fiber-based broadband coverage.
Earlier, the service provider completed its acquisition of InterLinx Communications and its subsidiary Tonaquint Networks in southern Utah, adding 170 miles of fiber to its network.