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Article Excerpt
WEST POINT, Ga. -- Knology, Inc. (NASDAQ-GM: KNOL) today announced that it has entered into a definitive agreement to acquire PrairieWave Communications, a voice, video and high-speed internet broadband services provider in South Dakota, as well as portions of Minnesota and Iowa. Knology will pay cash consideration of $255 million, subject to customary closing adjustments. PrairieWave currently serves approximately 57,000 residential customers and 7,200 business customers in two primary market areas surrounding Sioux Falls and Rapid City, South Dakota. These customers represent over 156,000 broadband connections, including approximately 70,000 voice, 46,000 video and 40,000 internet connections. Knology expects the transaction to close in the second quarter of 2007, subject to the satisfaction of closing conditions, including the receipt of regulatory approvals with respect to the municipal franchises.
"This is an exciting transaction for our company," said Rodger L. Johnson, President and Chief Executive Officer of Knology, Inc. "PrairieWave is a highly successful, customer-focused...
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