Consolidated Communications completes purchase of North Pittsburgh Systems, Inc.
Consolidated Communications announced today it has completed the purchase of North Pittsburgh Systems, Inc. (NPSI). The transaction includes three companies that comprised NPSI: North Pittsburgh Telephone Co., a 101-year-old telecommunications company in western Pennsylvania, as well as competitive local exchange carrier and interexchange carrier Penn Telecom and Internet Service Provider Nauticom. All three companies will eventually be branded as Consolidated Communications.
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Consolidated Communications Reaches a Definitive Merger Agreement to Acquire North Pittsburgh Systems, Inc. for $375.1 Million
Consolidated Communications Holdings, Inc. (Nasdaq: CNSL) announced today that it has entered into a definitive agreement to acquire North Pittsburgh Systems, Inc. (Nasdaq: NPSI) for $25 per share in a taxable cash and stock transaction with a total consideration of $375.1 million, based on Consolidated’s June 29, 2007 closing price.
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