USConnect to Acquire Livingston Telephone
Rural-Rooted Group Plans to Leverage Expertise and Make Other Strategic Acquisitions
LIVINGSTON, Texas (June 28, 2013) - USConnect Holdings, Inc. (USConnect) and The Livingston Telephone Company (Livingston Telephone) announced today that the two companies have entered into an agreement whereby USConnect will acquire the outstanding equity of Livingston Telephone. The transaction, which is subject to customary regulatory approvals, is expected to close during the fourth quarter of 2013. Financial terms were not disclosed.
USConnect was formed to leverage the collective industry commitments, capabilities and expertise of its employees, investors and industry partners to provide advanced communications and technology services to the communities it serves. The Livingston Telephone acquisition represents the first transaction USConnect expects to announce over the coming months.
“Livingston Telephone has a long history of serving the communications needs of the residents and businesses of Livingston, Texas and surrounding rural areas of Polk County,” said Denny Law, general manager and chief executive officer of Golden West Telecommunications and chairman of the board of USConnect. “We look forward to continuing that tradition as we leverage the collective capabilities and expertise of the Livingston Telephone and USConnect teams.”
“For more than 100 years, Livingston Telephone has served the communication needs of the Livingston market with a robust telecommunications network, excellent customer service and a dedicated group of committed employees,” stated Curt Walzel, president of Livingston Telephone. “Our merger with USConnect allows us to combine our strengths and strong market presence with USConnect so that we may continue to provide excellent service to our customers well into the future.”
About The Livingston Telephone Company
Livingston Telephone and its wholly-owned subsidiary, Telcom Supply, Inc., provide voice, video and high-speed Internet services to over 9,500 connections. Livingston Telephone’s 83 square-mile service area, located approximately 65 miles north of Houston, includes Livingston, Texas and surrounding rural areas of Polk County, Texas. Video, high-speed Internet and security monitoring services are provided under the Livingston Telephone brand through Telcom Supply, which also owns and operates KETX-FM (92.3 FM “The Eagle), KETX-AM (1440 AM “The Breeze”) and KETX-LP, a RetroTV affiliate broadcasting on channel 7 in the Livingston market. livtel.net
About USConnect Holdings, Inc.
USConnect was formed in March 2013 for the purpose of acquiring rural and independent communications providers and related properties strategic to the provision of community-based communications, broadband and technology services. USConnect is an industry-rooted effort committed to sustaining the financial and operational viability of rural and independent communications providers. USConnect’s investor companies include some of the most recognized and respected names in the rural and independent communications provider industry including Golden West Telecommunications of Wall, South Dakota, Horry Telephone Cooperative of Conway, South Carolina, Farmers Telephone Cooperative of Kingstree, South Carolina, Brazoria Telephone Company of Brazoria, Texas and Dickey Rural Networks of Ellendale, North Dakota. usconnectholdings.com