Integra Telecom completes acquisition of Eschelon Telecom

By Lisa Kerner

Charlotte, N.C., Aug. 31 - Eschelon Telecom, Inc. was acquired by a wholly owned subsidiary of Integra Telecom, Inc. as planned on Friday.

The companies' March 20 merger agreement gives Eschelon stockholders $30 per share in cash. Eschelon's common stock will no longer trade on the Nasdaq Global Market, according to a company news release.

Integra financed the $710 million purchase price, including the repayment of some $144 million of Eschelon's debt, through $1.2 billion in new capital.

Richard A. Smith, Eschelon's president since April 2000 and chief executive officer since July 2003, has accepted a position on Integra's board of directors. Integra CEO Dudley Slater will immediately take control of the combined organization.

Integra is a privately held integrated communications provider based in Portland, Ore. Eschelon, located in Minneapolis, provides integrated communications services to small and medium-sized businesses in the western United States.

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