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CS&L buying Hunt Telecom for $170M, changing name to Uniti Group

Feb. 23, 2017 9:56 AM ETUniti Group Inc. (UNIT) StockBy: Jason Aycock, SA News Editor4 Comments
  • Along with earnings posted today, Communications Sales & Leasing (CSAL -0.4%) says it has acquired Hunt Telecommunications for $170M, and that it will be changing its name to Uniti Group.
  • That means a ticker change as well, to NASDAQ:UNIT when CS&L opens on Nasdaq on Monday.
  • Hunt Telecom provides data transport to K-12 schools and government agencies with a dense network in Louisiana. That speeds the new Uniti's focus on E-Rate, enterprise and government, CEO Kenny Gunderman says, and should provide $2.5M in annual run-rate cost savings within 18 months of closing.
  • The infrastructure company also closed on its acquisition of Network Management Holdings, for $62.6M.
  • Earnings call slides
  • Press Release

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