Windstream finishes acquisition of NuVox

Windstream, Lexington's telephone provider, announced Monday it has completed its acquisition of 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 $647 million deal saw Windstream issue 18.7 million shares of stock valued at $187 million and pay about $280 million in cash. The company also repaid net debt of $180 million as part of the sale.