EarthLink To Snap Up ITC Deltacom In $516M Deal

Law360, New York (October 1, 2010, 4:08 PM EDT) -- Internet service provider EarthLink is expanding its footing in the IP infrastructure sector with the acquisition of ITC DeltaCom Inc., in a deal valued at $516 million.

Earthlink will acquire Deltacom after absorbing $325 million of the voice and data communications service provider's debt and offering $3 in cash per share, Earthlink said Friday. The deal has already garnered approval from each company's board of directors.

With access to Deltacom's vast fiber optic network in the Southeast, which spans more than 16,000 miles across 14 states,...
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