The acquisition of certain TDS Telecom assets announced yesterday by telecommunications and broadband service provider RiverStreet is expected to increase the company’s presence and help it provide enhanced services to customers, according to a press release that the company posted. The provider has customers in five states, primarily in North Carolina and Virginia.
To advance its long-term growth strategy, RiverStreet acquired Amelia Telephone Corporation and New Castle Telephone Company from TDS Telecom. As part of the acquisition, RiverStreet also obtained the New Castle, Virginia market area from Citizens Cablevision, a subsidiary of Citizens Telephone Cooperative’s cable operations.
RiverStreet described Citizens Telephone Cooperative, headquartered in Floyd, Virginia, as a respected local provider. The acquisition of the New Castle market area is thought to help expand RiverStreet’s service in Virginia, particularly in Craig County.
“We are thrilled to welcome the customers and employees to the RiverStreet family,” said RiverStreet President and CEO Eric Cramer in the announcement. “This acquisition represents an exciting opportunity to strengthen our presence in the Amelia and Craig County markets and further demonstrates our commitment to providing exceptional service and value to our customers.”
Along with the TDS acquisition news, RiverStreet said it is working on a multi-phased plan to bring gig-capable fiber to 14 additional counties in south-central Virginia. At this time, the company has passed 26,000 locations and is on schedule to pass 48,000 more locations within the next three years. RiverStreet said the endeavor is a major step forward in its efforts to connect underserved communities.
TDS Telecom has been active in the selling market over the past year. Last month it sold its operations and assets in the Colorado counties of Delta and Montrose to Elevate, a fiber-based service provider and subsidiary of the Delta-Montrose Electric Association. The assets serve more than 16,000 subscribers and include both copper and fiber wireline assets.
