The local company, headquartered out of Alamogordo, was purchased Thursday by TDS Telecommunications Corp, the seventh-largest local exchange telephone company in the U.S. for $267.5 million, according to a report issued Friday by TDS.
In February, TDS, a wholly owned subsidiary of Telephone and Data Systems headquartered out of Madison, Wis., announced its intention to acquire Baja Broadband pending regulatory approvals, which have been received.
According to the report, TDS will manage operation of Baja Broadband, which, in 2012 had reported annual revenues of $85.6 million and 278 employees providing video, high-speed broadband and voice services to residential customers and businesses in Arizona, Colorado, Nevada, new Mexico, Texas, and Utah.
M/C Partners acquired Baja Broadband in 2006. Since then it has invested a total of USD 27.2 million in the company. M/C Partners invests in firms in the media, information technology, and communications sectors. In the last four years, Baja Broadband’s annual growth earnings before interest, taxes, depreciation and amortization (EBITDA) was 22%.
M/C Partners Vice President Lydia Jett said that the transaction validated their premise that demand for broadband services has continued to grow.