US Signal Buys OneNeck From TDS

June 4th, 2024 by · Leave a Comment

Two service providers that have largely stayed out of the M&A game for the past couple of decades have done a deal out in the Midwest and West. US Signal has entered into a definitive agreement to buy OneNeck from Telephone and Data Systems.

OneNeck, which includes both an IT solutions and a data center division, serves more than 1,000 enterprise and business customers in all. The deal will add six data centers to US Signal’s footprint, giving them 15. US Signal will gain depth in the Midwestern markets of Madison WI, Minneapolis MN, and Des Moines IA as well as their first presence in Phoenix AZ, Denver CO, and Bend OR.

Based in Grand Rapids, Michigan, US Signal operates 9,500 route miles of fiber throughout the Midwest with which they serve the enterprise market with managed and cloud services as well as infrastructure. They are backed by Igneo Infrastructure Partners, which acquired the company last February and is looking like it might have further acquisitions in mind.

TDS is a publicly traded company that has 1.2M residential subscribers across a diverse geography, and in addition to OneNeck owns a majority stake in UScellular. They are in the process of selling USCellular to T-Mobile as well in a deal announced just last week. Terms of the deal were not disclosed, but the transaction is expected to be complete sometime next quarter.

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Categories: Datacenter · Managed Services · Mergers and Acquisitions

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