TDS new owner of K2 Communications in Mead, Colorado
With the acquisition now complete TDS is ready to begin transitioning customers.
TDS Broadband Service LLC, a subsidiary of Telephone and Data Systems, Inc., and operated by TDS Telecom (TDS®), announces it has purchased the cable and broadband assets and business of K2 Communications, LLC (K2) in Mead, Colorado. TDS will immediately begin working to transition customers and start planning for network improvements.
TDS currently serves neighboring communities in Berthoud and Johnstown, Colo. and will utilize employees and contractors from these areas to support its new customers in Mead and surrounding areas formerly served by K2. Customers who need to reach TDS should call 877-422-5282 for assistance.
“We look forward to accelerating growth in the area by providing industry-leading technologies,” states Jim Butman, chief operating officer at TDS Telecom. “I’d like to thank our new customers in advance for their patience as we begin the transition to TDS. We will start design work immediately and over the next 12 to 24 months update systems and integrate networks. These changes will lead to increased broadband speeds and new video products and services.”
TDS Telecom has been doing business in Colorado since 1991 and provides services to more than 30 communities in the state. TDS is leveraging Alternative Connect America (A-CAM) funds in Colorado to expand and improve broadband service to wireline customers. In addition, in 2013, TDS acquired cable TV provider Baja Broadband LLC. OneNeck® IT Solutions, also part of the TDS family, provides a full-suite of hosted and managed IT services. The company also operates a 35,000 square foot top-tier data center just outside Denver, Colo.
Dave Kavanagh of KavaCom Consulting assisted K2 Communications with this transaction. Terms of the agreement will not be disclosed.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the company’s plans, beliefs, estimates, and expectations. These statements are based on current estimates, projections, and assumptions, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important factors that may affect these forward-looking statements include, but are not limited to: intense competition; the ability to execute TDS’ business strategy; uncertainties in TDS’ future cash flows and liquidity and access to the capital markets; the ability to make payments on TDS and U.S. Cellular indebtedness or comply with the terms of debt covenants; impacts of any pending acquisitions/divestitures/exchanges of properties and/or licenses, including, but not limited to, the ability to obtain regulatory approvals, successfully complete the transactions and the financial impacts of such transactions; the ability of the company to successfully manage and grow its markets; the access to and pricing of unbundled network elements; the ability to obtain or maintain roaming arrangements with other carriers on acceptable terms; the state and federal telecommunications regulatory environment; the value of assets and investments; adverse changes in the ratings of TDS and U.S. Cellular debt securities by accredited ratings organizations; industry consolidation; advances in telecommunications technology; pending and future litigation; changes in income tax rates, laws, regulations or rulings; changes in customer growth rates, average monthly revenue per user, churn rates, roaming revenue and terms, the availability of wireless devices, or the mix of services and products offered by U.S. Cellular and TDS Telecom. Investors are encouraged to consider these and other risks and uncertainties that are discussed in documents furnished to the Securities and Exchange Commission.
