1. Otelco Agrees to be Acquired by Oak Hill Capital

    Otelco Agrees to be Acquired by Oak Hill Capital

    Otelco Inc. (Nasdaq: OTEL) (“Otelco” or the “Company”), has entered into a definitive agreement to be acquired by affiliates formed by Oak Hill Capital (“Oak Hill”), a private equity firm, for $11.75 per share in cash, which represents an equity purchase price of $40.6 million and an enterprise value of $105.6 million...

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    1. Like much of the telecommunications industry, Otelco is rapidly deploying technology, including fiber to the premise, to increase internet speeds for our customers.
    2. This transaction is a good outcome for Otelco's shareholders, customers and employees. We believe Oak Hill will provide the resources to speed up our network upgrade plan and wish them and the Company continued success.
    3. Otelco has assembled a talented leadership team capable of ramping up their deployment of advanced technology solutions.
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