TDS Telecommunications LLC (TDS) and Elevate have signed a stock purchase agreement under which Elevate will acquire TDS’s Delta County operations and assets. Elevate, a fiber internet subsidiary of Delta-Montrose Electric Association (DMEA), will take over TDS’s services in the area.
TDS, which provides phone and internet service in Delta County, has been operating in Colorado since 1991. Elevate, established in 2016, serves over 16,000 customers in Delta and Montrose counties with fiber-optic internet.
Elevate declined to share the price of the acquisition with the Montrose Business Times, as TDS is a publicly traded company.
“This acquisition represents a monumental step forward for Elevate and Delta County residents,” said Elevate President Jack Johnston. “As the only locally owned fiber internet company in Montrose and Delta counties, this move allows us to expand our reach and capabilities to offer reliable, high-speed internet at affordable rates.”
TDS Telecom President and CEO Jim Butman said the transition is expected to be seamless for customers.
“We are confident there will be a seamless transition of operations,” Butman said. “Customers can expect a high level of quality service with their new provider. We are grateful for our associates’ service and will work with them on the transition to the new company.”
The agreement includes four local TDS Field Service associates who will work with DMEA and Elevate teams. TDS will retain its cable operations in other parts of Colorado. The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the second quarter of 2025.
“For 87 years, DMEA, Elevate’s parent cooperative, has served its community with a member-first attitude, and we look forward to fulfilling our promise to serve all DMEA members with Elevate’s fiber-optic internet,” Johnston said. “We proudly welcome these Delta County customers with our award-winning, friendly customer service and tech support.”
Stifel served as the exclusive financial advisor to TDS in the transaction.
