HIGH POINT, NC – Dec 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.
