Iowa Telecom to Purchases Minnesota Telecommunications Company

NEWTON, Iowa, Nov 21, 2008 (BUSINESS WIRE) — Iowa Telecommunications Services, Inc. announced today that it has reached an agreement to acquire substantially all of the assets of Sherburne Tele Systems, Inc. for $80.6 million, subject to certain balance sheet and tax adjustments. Sherburne Tele Systems is a closely held telecommunications company serving nine communities adjacent to the Minneapolis/St. Paul Metropolitan Area. Sherburne’s operations include its ILEC services, marketed as Connections, Etc., and CLEC services provided through its wholly-owned subsidiary, Northstar Access. Read More …