Windstream, Lexington's telephone provider, announced this week that it's purchasing Kansas-based Q-Comm Corporation to help expand its broadband and business telecommunications revenues.
The $782 million deal will see Windstream add Q-Comm's subsidiaries Kentucky Data Link and Norlight, according to a news release. The former provides fiber-based communication and data services in 22 states and has 400 employees. Norlight serves 5,500 small and medium-sized business customers primarily in the Midwest and has 200 employees.
Both companies are based in Evansville, Ind.
Windstream will issue 20.6 million shares of stock valued at $237 million, as well as pay $278 million in cash, to acquire Q-Comm. Windstream will also absorb Q-Comm's debt of $267 million.
The deal is expected to close in the fourth quarter.