Acquisitions: EarthLink Buys ITC^DeltaCom

December 10, 2010 (FinancialWire) (http://www.financialwire.net/) — EarthLink, Inc. (ELNK – NASDAQ) said that it has completed its acquisition of ITC^DeltaCom, Inc., a provider of integrated communications services to customers in the southeastern United States, in a transaction valued at around $524 million.

Under the terms of the merger agreement, ITC^DeltaCom stockholders are receiving $3.00 in cash per each share of Deltacom common stock in the transaction. EarthLink is paying around $199 million in cash as part of the acquisition.

The company said it is also is assuming around $325 million of Deltacom's senior secured notes.

With the close of the transaction EarthLink said it will begin integrating its New Edge Networks and EarthLink Business Services operations with Deltacom and will market the combined services under the 'EarthLink Business' brand name.

Georgia-based EarthLink is a provider of Internet Protocol infrastructure and services to medium-sized and large businesses, enterprise organizations, and more than 1.5 million residential customers across the United States.

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