SureWest Communications announced late Wednesday that it has signed an
asset-purchase agreement to buy 'certain assets' of bankrupt Western Integrated
Networks LLC, which is doing business in Sacramento, Calif., as WINfirst.
SureWest said it will pay $12 million for the assets. The company already
provides broadband services in the Sacramento suburbs. It is the state's
fourth-largest competitive local-exchange carrier.
Sacramento is WINfirst's only operational system, with about 3,000 customers
subscribing to video, voice and high-speed-data services. Assets there also
include a state-of-the-art operations center.
SureWest already received a license to operate in the city and county of
Sacramento, but president and CEO Brian Strom said in a prepared statement that
his company will need the 'cooperative efforts' of WINfirst's employees,
suppliers and customers to close the deal.
The asset-purchase agreement will be filed with the bankruptcy court in
Denver in a few days, according to SureWest. Unless it is overbid, the
transaction is expected to close in July.
Strom's statement said his company will detail operational plans once the
acquisition is approved.