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RiverStreet to acquire ownership of Amelia Telephone Corporation and New Castle Telephone Company from TDS Telecom

Jun 04, 2024•over 1 year ago

Acquiring Company

RiverStreet Management Services

Acquired Company

Telephone and Data Systems, Inc.

WilkesboroMadisonHardwareHardwareInternet

Description

TDS Telecom has signed a stock purchase agreement with RiverStreet Management Services, LLC to transfer ownership of Amelia Telephone Corporation and New Castle Telephone Company. The agreement is expected to close within the third quarter of 2024, subject to customary regulatory approvals. Additionally, eight local TDS Telecom Field Service associates will transfer to RiverStreet as part of the agreement.

Company Information

Company

RiverStreet Management Services

Location

1400 RIVER STREET

Wilkesboro, North Carolina, United States

About

RiverStreet Networks was born out of a desire to expand the current services offered to customers primarily in Wilkes County to customers outside of Wilkes Communications, Inc.'s traditional service area. RiverStreet Networks is a subsidiary of Wilkes Communications, Inc., a North Carolina based company that has been in the communications business for over 60 years. With decades of experience providing communications and technology solutions for businesses large and small, RiverStreet Networks strives to be your business and technology partner.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed