LUBBOCK, Texas XFONE–(BUSINESS WIRE)–XFONE, Inc. (NYSE Amex and TASE: XFN) (“Xfone” or “the Company”) announced a definitive agreement between its wholly-owned subsidiary, NTS Communications, Inc. (“NTS”) and Cobridge Telecom, LLC for the purchase of approximately 2,400 cable customers as well as equipment in Levelland, Littlefield, Morton and Colorado City, Texas.
Guy Nissenson, President and CEO of Xfone, stated, “These customers are in markets such as Levelland, where we currently offer state of the art Fiber-To-The-Premise (FTTP) Triple Play service, or in markets where we are in the process of expanding into. With this acquisition, in these markets, we will be the only provider of subscription video excluding satellite – a long term goal of ours. We look forward to providing these customers with excellent service and offering them the opportunity, over time, to upgrade their service to include high speed Internet, Voice and enhanced Video.”
Mr. Nissenson continued, “We see this as a great opportunity to accelerate market penetration, provide higher service to these valued customers and increase overall revenues and profitability.”
The transaction is expected to close in June 2011.