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Jessica Sabbath// May 9, 2016//
Shenandoah Telecommunications Company (Shentel) has completed its acquisition of Waynesboro-based NTELOS Holding Corp.
Shentel is a Edinburg-based company that operates as a Sprint affiliate that will offer wireless communications service to the former Ntelos service area that includes portions of Virginia, West Virginia, Maryland, North Carolina, Ohio, Pennsylvania and Kentucky.
The acquisition will more than double Shentel’s wireless customer base.
“The most important news for customers is that Shentel will accelerate network upgrades in the current nTelos region throughout this year and next, which will give customers more coverage in more places, stronger signals and faster downloads,” Christopher E. French, president and CEO of Shentel, said in a statement. “We have committed to invest approximately $350 million as part of the expansion of the network and plan to add hundreds of additional coverage sites to provide an enhanced and more complete network for our customers.”
Shentel had revenues of $342.5 million in 2015 and profit of $40.9 million.
Ntelos had revenues of $362.6 million and a net loss of $11 million in 2015.
