No, not the kind made from grapes, although they could have done that too come to think of it. Consolidated Communications agreed yesterday to acquire Champaign Telephone Company (CTC) in a $13M all cash transaction, consolidating a bit more fiber infrastructure under its umbrella.
CTC offers internet, voice, metro Ethernet, and hosted VoIP in the Champaign-Urbana metro area, home of the University of Illinois. They started out with PBX services, and expanded from there. Today they operate 275 route miles of fiber hooking up 310 buildings and 1500 business customers. Last year they did some $10M in revenue.
The purchase complements the company's existing presence in central Illinois, bringing a new market and some new regional talent in house. It's not a huge deal of course, but it is Consolidated's first deal since the acquisition of Enventis a couple years ago and appears to be simply an opportunistic thing. That being said, I'm sure Consolidated is on the lookout for other such opportunities.