PURCHASE, N.Y. -- BCI Broadband (BCI) and Allegiance Communications (Allegiance) today announced a definitive agreement under which a newly formed subsidiary of BCI will acquire Allegiance in a transaction expected to close early in 2013. Allegiance is an operator of non-urban Broadband systems across the midwestern states of Arkansas, Kansas, Texas and Oklahoma, where the company is based. The announcement also marks the origination of a partnership between BCI's management and BBH Capital Partners (BBHCP), a private equity fund sponsored by Brown Brothers Harriman & Co., one of the nationâ€™s oldest and best-regarded financial institutions.
BCI is a newly organized, next-generation broadband MSO formed by the executive management team from pioneering cable operator Bresnan Communications. Led by President and CEO Jeffrey S. DeMond and Andrew Kober, EVP and CFO, the team is acquiring the Allegiance properties as the first transaction in an aggressive growth plan by the company.
"Since the early days of our industry, the Bresnan name stood for exceptional performance and a deep commitment to our customers, our colleagues and the communities we served," said Jeff DeMond. "The Bresnan management team remains largely intact within BCI, and that makes us extraordinarily well positioned to develop the Allegiance properties to their greatest potential. Our success across much of rural America as well as markets in Chile and Poland was built upon a distinctive balance of aggressive, yet thoughtful capital investment and a single-minded focus on the customer experience. Our team looks forward to once again creating value for our partners while providing immediate benefit to both existing and new subscribers in the former Allegiance communities."
Allegiance Telecom Inc.