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North State Strengthens Focus on Broadband With
Divestiture of Wireless Operations
HIGH POINT, N.C.
– December 20, 2012 – North State Communications today announced
that it has agreed to sell its wireless operations to AT&T for $23.5
million in cash. North State has provided wireless services through
various joint venture arrangements with AT&T since 1994.
"We built a strong
wireless business,” said North State President and COO Royster Tucker III.
"The wireless sale demonstrates the value that our investments and efforts
have produced, and will enable us to strengthen our broadband business and
expand our data center operations.”
North State provides
fiber-to-the-home and business services such as advanced TV, ultra-fast
Internet connections, and other IP-based services in North Carolina’s
Piedmont Triad region. The company recently acquired Winston-Salem, N.C. -
based data management company DataChambers, and announced expansion for
this operation with the opening of a 50,000 square foot data center in
Raleigh, planned for early 2013. The wireless transaction, which is
expected to close within the first half of 2013, is subject to customary
closing conditions, including FCC approval. Charlesmead Advisors is acting
as financial advisor to North State in the transaction.
About North
State
North State is among the
fastest growing data, communications and entertainment companies in North
Carolina. The company provides services to consumers and businesses,
including advanced television, Internet, voice and data services in the
state’s Piedmont Triad region. North State is the area’s preeminent
provider of business communications and data center services. The company
operates data centers in Winston-Salem and Raleigh, North Carolina, with a
full range of management and monitoring services, collocation and cloud
solutions, and backup and recovery options, serving businesses throughout
the southeast and eastern U.S. For more information visit:
www.northstate.net
Bob Geller
Fusion Public Relations
(212) 651-4224
bob.geller@fusionpr.com
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