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Telephone and Data Systems Inc. (TDS), listed on the NYSE under the symbol TDS, is a Fortune 1000® company that provides a broad range of telecommunications services. The company's segments include UScellular, TDS Telecom, and OneNeck IT Solutions. Headquartered in Chicago, IL, TDS was founded in 1969 and employs approximately 8,600 associates as of March 31, 2024.
TDS operates through several key businesses:
- UScellular: This segment offers comprehensive wireless services and products to around 5 million customers nationwide. With a strong emphasis on customer support, UScellular ensures a high-quality network experience.
- TDS Telecommunications Corp.: Based in Madison, WI, this subsidiary provides high-speed internet, TV entertainment, and phone services to residential and business customers in rural, suburban, and metropolitan communities. TDS Telecom has also been aggressively expanding its fiber network, aiming to deliver faster internet speeds up to 8 Gigabits.
- OneNeck IT Solutions: Specializing in hybrid IT solutions, OneNeck offers cloud hosting, managed services, and advanced IT services through data centers located across several states, including Arizona, Colorado, Iowa, Minnesota, Oregon, and Wisconsin.
TDS is committed to continuous improvement and innovation, as evidenced by its recent achievements. The company has reported strong growth in its fiber broadband connections, having surpassed 100,000 residential broadband connections in its expansion markets. TDS Telecom plans to extend its fiber service to 1.2 million marketable addresses and aims to offer 1 Gig or higher speeds to at least 80% of its footprint.
In 2024, TDS announced several significant developments. These include a decision to explore strategic alternatives for UScellular, resulting in an agreement to sell its wireless operations and a portion of its spectrum assets to T-Mobile for $4.4 billion. The transaction is expected to close by mid-2025, pending regulatory approval. Additionally, TDS has entered an agreement to sell its OneNeck IT Solutions business to US Signal Company, LLC, with the proceeds earmarked to support the company’s fiber expansion initiatives.
Financially, TDS has shown resilience and adaptability, reporting total operating revenues of $1,262 million for the first quarter of 2024. The company continues to strategically manage its capital, including a recent $375 million unsecured debt financing to further support its fiber build-out program.
Overall, TDS aims to maintain its trajectory of growth and innovation, ensuring excellent service and connectivity for its customers across the United States.
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