Moorgate Advises Block Communications on its Acquisition of Line Systems
Toledo, OH -- Block Communications Inc. (“BCI”), a diversified media company and its subsidiary, Buckeye Telesystem (“Telesystem”), a leader of Voice, Data and Cloud services in the Northwest Ohio/Southeast Michigan area jointly announced that they have reached a definitive agreement to acquire substantially all of the assets of Line Systems, Inc. (“LSI”), a full-service, integrated business communications provider in the Mid-Atlantic region, and certain of its affiliates.
The acquisition of LSI will continue to advance Telesystem’s mission to provide services that empower businesses. "This acquisition complements our overall offering and expands our reach into the Mid-Atlantic region. We are very excited about the opportunity to have LSI become part of the Telesystem team." stated John E. Martin, President of Telesystem. "Their philosophy, much like ours, is to build partnerships with the business community, while continually evolving services focused on the needs of our customers.”
"With the combination of Telesystem and LSI, we now have the ability to deliver innovative products and services in all areas that we operate," said Mike Miller, CEO of LSI. "This acquisition is a win-win for both companies," he added.
Both companies offer a full complement of communication services. From traditional phone service, data connectivity to Hosted VoIP, SIP trunks and Cloud services, the combination of the two companies will expand the reach of these offerings. "For businesses, this acquisition adds to our capacity and geographic reach to provide high-availability and reliable communications to customers in our areas," Mr. Martin added.
LSI will maintain its headquarters in West Chester, PA.
Moorgate Partners served as exclusive financial advisor and Shumaker, Loop & Kendrick, LLP served as legal counsel to Block Communications. The M&T Bank Investment Banking Group and W.G. Nielsen & Co. served as financial advisors and Kelley Drye & Warren LLP served as legal counsel to Line Systems.
For additional information on this transaction, please see the company's press release.