Cable Technology Feature Article
M/C Partners Sells Baja Broadband to TDS
By Calvin Azuri, TMCnet Contributor
M/C Partners recently completed the sale of Baja Broadband to Telephone and Data Systems for a consideration of US$ 267.5 million. M/C Partners had invested around US$ 27.2 million since it first invested in Baja Broadband in 2006. The company was instrumental in revamping the entire structure of Baja Broadband, including bringing in a new management team. Baja Broadband has performed extremely well under the aegis of M/C Partners, with the latter playing a key role in various aspects such as acquisition, corporate development and divestment efforts.
In a release, Lydia Jett, vice president of M/C Partners, said, “This successful transaction validates our premise of continued growth in broadband demand. We are proud of the tremendous job the Baja management did in positioning the company for this moment, and are pleased that TDS is acquiring Baja. We are confident TDS will serve the communities and Baja's employees well in the long term.”
M/C Partners announced the acquisition of Baja Broadband by Telephone and Data Systems earlier this year with RBC Capital Markets functioning as the advisor for mergers and acquisitions for Baja Broadband. M/C Partners also a played a key in role in helping Baja Broadband expand its footprint in the niche sector with the acquisition of US Cable. Prior to the sale, Last Mile (News - Alert) Communications was managing Baja Broadband.
M/C Partners, a private equity firm, has focused interests in making strategic investments in media, information technology and the telecommunications industry. The company invested in many successful companies such as Corelink (News - Alert), ICG Communications, MetroPCS, Seven Networks and others.
Baja Broadband is a telecommunications company offering end-to-end video, voice and Internet services for residential and commercial customers. The company has a strong foothold in the geographical markets it operates such as New Mexico, Utah, Arizona, Colorado and Texas.
Telephone and Data Systems, Inc. has a customer base of 7 million across its service portfolio such as broadband, wireless, TV and voice services in addition to hosted and managed services. The company has the distinction of having a place in the Fortune 500 list.
Edited by Rich Steeves