Windstream, Lexington's telephone provider, announced Tuesday it is acquiring NuVox, a company that specializes in providing voice and data services to 90,000 business customers in 16 states, including Kentucky.
NuVox, based in Greenville, S.C., operates in 48 locations in southeastern and midwestern states. With the addition of NuVox, business and broadband revenue will constitute more than half of Windstream's total revenue.
The $643 million deal will see Windstream issue 18.7 million shares of stock valued at $183 million and pay approximately $280 million in cash. The company also will assume net debt of about $180 million as part of the sale.
The transaction is expected to close in the first half of 2010, pending approval from federal and state regulators.